Replies to post #10787 on Direxion Daily Gold Miners Bull 2X (NUGT)

[str8_chuter]

Ah...no.

GDX again closed well below mid-range for the day's trading. This ETF has fallen down and can't get up. This is a falling knife, skewering many playing for a bounce.

Chart still remains on a sell signal.

[sumotrader]

Given that NUGT/JNUG tanked even when Gold was flat or slightly up would suggest further pain for the miners, especially if we see 1190 Gold that many are calling for.

$USD not showing any signs of weakness and still putting in higher highs. With so many headwinds it would take a MAJOR geopolitical crisis to get Gold turned around anytime soon IMO.

I got me arse handed to me today betting on an early technical bounce today, hope you did better.

Sumo