Someone else that I follow is waiting for the 8x34 EMA crossover on the GDX daily and to see how it acts against the 22.50 resistance just above it which he thinks will give him conformation of a bull move. You lose some of the early volume but he doesn't scalp and so he doesn't take many chances.
These ETF's are broken. NUGT/JNUG barely participated in the huge run up with gold, yet will drop like a rock in any slight movement in gold to the downside. Complete disconnect.
The only way to play these is shorting the opposite side or roll in and out of them daily.
Started playing these in December and am slowly getting back to even from the huge drop off the cliff in feb. Should have locked in 10k in January alone but got dusted holding into the skid. Have been bouncing in and out since averaging down and have faired far better.
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