Direxion Daily Gold Miners Bull 2X (NUGT)

[Surfint]

An analyst that I follow that is often right ( but timing off ) sees gold weakening and a correction by Jan 2014; he thinks this rally attempt will be shallow. But he also called for a bottom in early October that reached a low but didn't reach the lower bottom he now sees happening by/in January before another big leg up.

Waiting for these events to materialize keeps people on the sidelines while there is backing and filling according to him.

He's saying stay out of juniors but seems to think bigger miners have bottomed (unless there is a huge drop, etc.). The next drop in gold needs to take out the low of the summer according to him.

Just sharing that perspective. Some other posters commented on the same analyst at one point. His timing has been a little off and could keep a shorter term investor out of some trades.