Replies to post #2404 on Direxion Daily Gold Miners Be (DUST)

[mannken]

It's purely a speculative play

on gold bouncing off the 1244 support today, Fast Sto oversold and a possible 9/11 anniversary bounce, there is no indicator suggesting a bounce, though I reached deep for something, anything:

Since the downturn 7 days ago from the most recent bounce, we are 11.2% below the (7)SMA

The other 2 highest percentage gaps in closing price-to-(7)SMA since the 10Jul high, before bouncing are:
8/21 - 9%
8/25 - 10.3%
Today - 11.2%

We could say there is a pattern of Nugt bouncing at each 1% increment of this violent downturn, but a stretch. lol

There are 2 nugt gaps
6/11 - 32.60 gap
6/10 - 31.11 gap