Replies to post #11007 on Direxion Daily Gold Miners Bull 2X (NUGT)

[mannken]

Not a bad choice

aka 'revenue recognition' on winning trades.

I held overnight, IMO, Gold wants to do 1240 of the upper bollie and mid section of the descending channel after the 1180ish hard bounce off the lower support.

Nugt volume was unprecedented, the highest single day volume ever. The 20SMA and mid section of bollie pivot is 26.47. There is a 32.00 pivot area of the last support consolidation area before breaking down in trend to the high teen lows. There are higher pivots of the upper 12&20 day bollies north of 30.00.

With the volatility, it's anyone's best guess if Nugt can hit any of those pivots.

If Nugt trades lower today, I will exit full and miss the super spike sell opportunity yesterday.

If it trades higher, I will take 1/2 off the table at the first pivot and watch trading from there.