Replies to post #38762 on Direxion Daily Gold Miners Bull 2X (NUGT)

[weazelboy]

OMG! I'm terribly sorry to hear this. :-( I almost bought it yesterday too...but I didn't like how it was down "only" 14% when it should have been down over double that.

Do not panic sell it. Credit Suisse just released something stating it is not being delisted and they have the position completely hedged. It's going to take a long while, but when the volatility normalizes...it is naturally designed to go up (like UVXY is naturally designed to go down).

Futures recovered a ton overnight...but gold still isn't moving. So, not sure what GDX/NUGT do today. Everything is bonkers. Welcome to the world of algo trading where computers don't know how to deal with uncertainty.