Replies to post #16739 on Direxion Daily Gold Miners Bull 2X (NUGT)

[rawiron1]

You are right on gold and wrong on hikes. No hikes in 2015 or '16.

NUGT

[All Day]

Agreed on your points

[andrius]

"Now if we have a meltdown in the market then I would rethink buying gold"

IMO too many people think gold is a safety play during bad markets simply because it performed well during last collapse. Most of gold gains actually were with markets bouncing and when .com bubble burst gold actually went down. Not sure how much correlation to market direction given golds history of long consolidation periods. It ran huge during 1970s and peaked 1980. It took over 20 years to finally bottom and 26 years to make it back to 1980s levels and that doesn't include inflation. Long term chart still very bearish, long term trend lines down, fresh multi year lows 2-3 months back and this is likely just a short term bounce to resistance. Could be wrong but thinking gold will do 61.8% fib retrace from all time highs and consolidate for many years before we see next big move up. Some of you gold bugs might jump all over me but its just my .02 cents, don't invest long term anyway.

[4Godnwv]

You wrote: "I know the value of that gold will go down in Jan. when they raise rates. I'm just using logic here...if we have a meltdown in the market then I would rethink buying gold but hopefully we don't have another devastating crash like 2008."[\i]

imo, the coming meltdown will eclipse 2008!! Physical gold cannot be played like an ETF. You buy it and hold it until you need capital. DUST and NUGT are just like any other paper. PM's are "real estate". That's why central banks all over the world are accumulating. They know what's coming. JPMorgan has increased their silver holdings from 5million ozs to 55million ozs in just three years!

The fact is, nothing has changed since the POG last soared, except the numbers are worse. Since the last crisis in 2008 global debt has climbed a whopping $57 Trillion. Next time it will be a total systemic collapse.

4God