Replies to post #7038 on Direxion Daily Gold Miners Bull 2X (NUGT)

[gw323]

What are you talking about ? That was in February. Recently you had a Golden Cross form on Sept. 30th with the 50 DMA crossing above the 100 DMA.

GOLD is bullish right now in the short / medium term. I don't know if longterm we have bottomed yet, but a retest will be in Order. And by the looks of the buying action in and around the $1270 area, I will be very surprised to see that taken out on a retest.

I believe the Bottom is in... It's not like we could be anymore Bearish on GOLD, its not like they are going to stop or reduce QE, its not like the Chinese and Indian demand for physical is slowing down, its not like hyper-inflation isn't going to happen with all the money printing.

Good Luck to All