Replies to post #37350 on Direxion Daily Gold Miners Bull 2X (NUGT)

[JRT]

I have a small profit and have my finger on the sell button.

[weazelboy]

Aaannnddd...just as I stated, slammed to exactly the 50 SMA on the hourly with gold virtually unchanged. That also happens to coincide with the rising 50 SMA on the daily too.

GDX weakness to gold is not only continuing from last week, but is accelerating. Not too fond of that aspect of this right now, as if gold moves down...GDX/NUGT are going to get crushed.