Direxion Daily Gold Miners Bull 2X (NUGT)

[sumotrader]

Hey Stock, NUGT and DUST are always risky plays, I guess that's why I play them.

DUST has retraced 62%+- from it's recent highs in December and there are many gaps to fill on up to $43 so I'll take my chances.

Might be some short term pain but every analyst I trust is still calling for sub 1200 gold in 2014 with no revisions upward. There is always tension somewhere but no inflation at the moment.

Shorting NUGT as opposed to going long DUST should minimize the decay for a potential hold if I'm right. The two biggest mistakes I've made here were not holding my short (NUGT) position at $70 and not holding my long (NUGT) position at $24.70.

If gold breaks and holds $1350 convincingly I will take my lumps.

Good luck whichever way you play it!