Replies to post #10868 on Direxion Daily Gold Miners Bull 2X (NUGT)

[mannken]

Possibly something simple as

October seasonal fear on the DOW and funds shifting some assets to gold for Q4 performance, beyond that I have no idea lol
http://www.seasonalcharts.com/classics_dj_ia.html

If I was a fund manager, looking at the market valuation and beaten down gold, forecasting for Q4 portfolio performance, I would be shifting some cash, but not a lot, because of the dollar strength.

The next Fib on gold is 1180 if the 1208 area breaks down with stronger conviction.

Maybe yesterday was the short term bottom, well have to see.