Since the general consensus is that no rate hike will occur tomorrow I believe it may be somewhat factored in. I still expect a big up day tomorrow and thurs. Im not sure gold breaks over 1200 but I believe nugt should atleast get back to 52. If the fed indicates that a December rate hike is out of the question and that chances for one in 2016 are diminishing I think we break 1200 and make some real $. As for uwti, the fundamentals are all bearish rt now, supplies have been up big time the last few weeks and with rig counts as of last week not decreasing and the slowing of world economies I think we break below 38 before another bounce back.
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