AMEX:DUST   DIREXION DAILY GOLD MINERS BEAR 3X SHARES
1784 22 18
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.
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.
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$?
Comment: We will have record volume and the opening gap is filled.
Hopefully daily maximum close.
This is bullish.
Comment: Almost the same volume as on Friday.
Retail traders are out , smartmoney is in.
That's the way love goes.
Comment: DUST is in +10%. Not bad.
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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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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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
Well I gave them my last two blocks of Jr miners (GPL andEXK) yesterday and closed out all my positions.
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I hate you now ! :)
You were selling with smartmoney.
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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
excellent point i do see it, but with the gold is moving i think a pull back is imminent
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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
I posted that also. GDX and a 2009 GDX chart
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$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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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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I love it when people use charting tools on leveraged ETFs, I am like, seriously, pfff.
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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
here is your start
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Bought 750 more shares DUST.
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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.
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regsask1 chartwatchers
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.
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In
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I bought 10 x $1.5 Call options. Hoping for that Gap up! :D
+1 Reply
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.
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Got out at 1.51 but will continue watching this. As always, thank you for any updates to this trade.
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not badat all : }
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