Direxion Daily Gold Miners Index Bear 2X SharesArca
Description
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0. As always see my other notes, research and analysis on AMD for background.
1. Been following this for a long time. Been patiently waiting for the rotation from GLD and NUGT into QQQ, SPY. This puppy is going to the moon.
2. We BACKED UP THE TRUCK AT $5.75 and have been waiting a long for this. The Gold bugs are about to receive a lesson in economics like you have never seen before.
@drchelsea1, what is your neural network saying............ Price has been retracing back to your starting point...........Reversal back up to start soon..?
Yes. Give it time. The Miners (NUGT / JNUG), and GLD, I think this is just the BLOW OFF TOP, that we saw in June / July 2018 in the end of the last BULL Market for equities. It will take some time for Gold and the Miners to unwind. Once the masses realize we are just coming out of a BEAR MARKET, and it is time to DUMP all defensives as they have no value right now in relation to the returns tech and others will provide. Earnings should show bottom of cycle, and rebound, then Gold and Miners are going down so quickly, they won't be able to hit the sell button.
Slowly build a position in DUST. 100 shares and add to it as it goes back up...
EvermorePips
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@drchelsea1, I bought 100 shares yesterday morning.......... and it has been going down ever since........ there is a second GAP at the 88..6% FIB - $5.35.......................... i wonder if it will retrace that far....
EvermorePips
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@drchelsea1, GLD is a little down around 145 - 145.50, but so is DUST................ Shouldn't these be inverse of each other?
washguy
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yikes.....that brings back a bad taste in my mouth....Dust ...dusted me last year lol
Perfect. That tells me SHOULD buy at least 100 shares at the market open tomorrow. I will buy 1000 shares for you. When it is at $25 in about 6 weeks, please do not be surprised. There is something happening in the market, and people just don't see it. It will be obvious soon....
washguy
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@drchelsea1, Thanks...LOL btw...you do know I ruined our AMD run by me buying in.....so you are right on...just do the opposite of what I do ...:) Wash
You didn't ruin anything. Tomorrow maybe. Already up to $49 in After Hours Trading. As soon as it leaves $49.25 it will race to $49.95, and I bet there is no resistance at all. We run straight to $52.50.