AMEX:DUST   DIREXION DAILY GOLD MINERS BEAR 3X SHARES
1773 22 17
11 months ago
DUST opened with a gap (hard to see on the picture if you ZOOM it's there) and suffered a -18.77% decline.
It was a capitulation. I think the thing what is happening in the miners is very important for gold             . Miners will have an intermediate decline in the following weeks. And the reverse fund DUST will rally like crazy.

The intermediate lows in DUST are always printed with this pattern what we saw on Friday:
gap open , record volume , capitulation. In 2-3 days a big reversal was coming.

I'm using Fibonacci to predict how far this rally will go: I'm looking for
at least a 23.6% correction to 5.95. (447%)
Most likely a 38.2% correction to 8.82. (664%)
But the 50% to 11.14 is not out of the table (844%)

If it was not the bottom we are very close: 1-3 days. So I'm still holding my DUST position.
I'm not going to sell my shares to the banks at the exact bottom.
10 months ago
Comment: Watching DUST very closely today and tomorrow.
I'm looking for a reversal candlestick with new record volume.
THat will be the sign for the reversal.
10 months ago
Comment: If gold collapses tonight DUST will open with a runaway gap.
Which will not be filled...
If you want to be positioned today is the time.
So please don't ask me 2 weeks later is it good buy DUST at 4$?
10 months ago
Comment: We will have record volume and the opening gap is filled.
Hopefully daily maximum close.
This is bullish.
10 months ago
Comment: Almost the same volume as on Friday.
Retail traders are out , smartmoney is in.
That's the way love goes.
10 months ago
Comment: DUST is in +10%. Not bad.
Benztownguy
11 months ago
Thank you for sharing this idea: from the looks of it, it is the perfect time (next 1-3 days) to buy DUST. Your idea supports also my short position on Gold. Have a great weekend!
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JesseL
11 months ago
The Gold/Silver COT Reports are showing that we are really close to the turning point. Similar to October 15, but much more extreme. I think we will see at least a 50% retracement and probably more. Gold/Silver bulls are absolutely giddy right now and predicting continuing highs.
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chartwatchers PRO JesseL
11 months ago
Smartmoney just used up that FED was quiet about the next rate hiking and pulled GDX-GDXJ-NUGT to new highs and they were/are exiting at these overbought levels. The small guys are just standing in a row to get some expensive shares at the top.
:)
How many times I saw it before...
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JesseL chartwatchers
11 months ago
Well I gave them my last two blocks of Jr miners (GPL andEXK) yesterday and closed out all my positions.
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chartwatchers PRO JesseL
11 months ago
I hate you now ! :)
You were selling with smartmoney.
Reply
sstewart32619
11 months ago
Shouldn't you be looking at the technicals of gdx and not the decaying leveraged inverse? I see a retracement soon for gold minors but not until the market starts to retrace up again. Go back and look at GDX and SPY. GDX spikes on SPY dips. I wouldn't get into DUST until I start to see SPY turn around.


+1 Reply
AL_G sstewart32619
11 months ago
excellent point i do see it, but with the gold is moving i think a pull back is imminent
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sstewart32619 AL_G
11 months ago
Oh, I definitely think it's imminent as well and I definitely think it will happen soon. However, I wouldn't trade this until I see SPY start to base or until I see SPY begin to pull back up.
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chartwatchers PRO sstewart32619
11 months ago
I posted that also. GDX and a 2009 GDX chart
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TTejpal
11 months ago
$GDX is driven by JPYUSD while $DUST is driven by USDJPY. However, the COT reports are very extended:

GDX:

http://www.barchart.com/chart.php?sym=GCM16&style=technical&template=&p=WN&d=X&sd=&ed=&size=L&log=0&t=BAR&v=0&g=1&evnt=1&late=1&o1=&o2=&o3=&sh=100&indicators=COTLC%2813369344%2C26112%2C153%29%3BCOTDLC%2813369344%2C26112%2C153%2C16750848%29&chartindicator_1_code=COTLC&chartindicator_1_param_0=13369344&chartindicator_1_param_1=26112&chartindicator_1_param_2=153&chartindicator_2_code=COTDLC&chartindicator_2_param_0=13369344&chartindicator_2_param_1=26112&chartindicator_2_param_2=153&chartindicator_2_param_3=16750848&addindicator=&submitted=1&fpage=&txtDate=

JPY:
http://www.barchart.com/chart.php?sym=J6M16&style=technical&template=&p=WN&d=X&sd=&ed=&size=M&log=0&t=BAR&v=0&g=1&evnt=1&late=1&o1=&o2=&o3=&sh=100&indicators=COTLC%2813369344%2C26112%2C153%29%3BCOTDLC%2813369344%2C26112%2C153%2C16750848%29&chartindicator_2_code=COTLC&chartindicator_2_param_0=13369344&chartindicator_2_param_1=26112&chartindicator_2_param_2=153&chartindicator_3_code=COTDLC&chartindicator_3_param_0=13369344&chartindicator_3_param_1=26112&chartindicator_3_param_2=153&chartindicator_3_param_3=16750848&addindicator=&submitted=1&fpage=&txtDate=
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DukeBot PRO
10 months ago
I agree here. look at GDX and DXY...GDX has gained around 110 percent in last 11 trading sessions...DXY near major support as well. DUST should be a great play don't miss the move trying to find the exact bottom
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mrezaei
10 months ago
I love it when people use charting tools on leveraged ETFs, I am like, seriously, pfff.
Reply
chartwatchers PRO mrezaei
10 months ago
I have written to tradingview to let me post without the picture for You.
But unfortunately it's not possible....

Seriously it is based on GDX, GDXJ and GOLD.
I will write you at the 4-500% profit.
;)

GDX - Who is buying?
+1 Reply
mathias.alechandro
10 months ago
here is your start
Reply
AlphaDreams PRO
10 months ago
Bought 750 more shares DUST.
Reply
chartwatchers PRO AlphaDreams
10 months ago
Just have the starter position and we will be adding later more.
Anyway I don't think it goes below 1$ now. Metals miners seem to be topping.
Reply
regsask1 chartwatchers
10 months ago
So what would your opinion be on the DUST play? Get in now at current prices or is it to late? I just started following you and have learned a lot already.
Keep up the good work.
Reply
kizly
10 months ago
In
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TheFXNow
10 months ago
I bought 10 x $1.5 Call options. Hoping for that Gap up! :D
+1 Reply
Royal_Marq
10 months ago
Thanks man. I just took 5000 shares @ $1.30. I have been watching it for couple of days. Than I thought I should take your advice and dive into the ocean.
Reply
tcp007
10 months ago
Got out at 1.51 but will continue watching this. As always, thank you for any updates to this trade.
Reply
TRADER727 PRO
10 months ago
not badat all : }
Reply
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