Replies to post #2268 on Direxion Daily Gold Miners Be (DUST)

[dusttrader]

Sorry mon is a holiday, will load up on either tues or wed

[mannken]

Good decision

Hope the trade works out for you.

I intend to increase long holdings if I can in the 15.50/70 area

I wouldn't be at all surprised if Gold makes a stab at 1300 again, as the first week or two of Sept can be good for gold historically speaking.

However, because Gold is not an absolute measure of Nugt perf, rather an indicative one, I believe the 10/20 breach of the 50 MA (a.k.a. death cross) on Nugt has been a mechanism of forward discounting lower Gold prices in the back end of Sept. With that said, the market has been speaking IMO.

All in all, I'm playing the moving averages and watching the vol conviction taper off as Nugt tried to test the 10 EMA today before selling off. If it hits the 10 SMA tomorrow @ 44.88, I will be a Dust buyer.

GLTA