AMEX:JNUG   DIREXION DAILY JUNIOR GOLD MINERS INDEX BULL 3X SHARES
346 15 7
JNUG             is looking rather yummy lately and I'm getting ready to take a nibble :) Miners - GDX/GDXJ - were trading way above their 200DMA and were in dire need of a correction. That correction is now very much underway and Gold             could print a DCL any day now. Notice how JNUG             is flirting with the 50 DMA and possibly the 62%Fib Retracement where you'll find strong support. These are levels to watch in the next coming days.

Trade at your own risk..! JNUG             is a 3X Leveraged ETF
Comment: Gold is skyrocketing today! I picked up some shares of JNUG this morning @$220 and will pick up a second tranche if we get a strong reversal. Either way, I'm convinced that we will re-test and possibly break $315.
:) nice tx
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Nightstar webmiztriz
You welcome Miztriz :)
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Yes, well I bet you're glad you did, if you took the plunge. (I got burnt by DUST a while back and so am wary of Gold and such.) I wonder if JNUG has actually decided to reverse at the 50% fib at around $205 - this fits with a RSI trendline and in lower timeframes there's RSI divergence on the two big recent down candles. Certainly flying today, but, as you say, not for the faint-hearted. Interesting to see what a potential rate hike by the Fed might do to this tomorrow.
BTW, I couldn't work out what the DMA is? I presume it works in the normal way of a 200MA in that any price can be expected not to deviate from it too hugely over the longer term? thanks MC
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I haven't taken the plunge yet.. I'd rather wait for a confirmation that the DCL (Daily Cycle Low) is in first before I pull the trigger. Either way, the Bull will correct any timing mistakes so I'm not to concern at this point.

Ps: DMA is just short for 'Daily Moving Average' as oppose to a Weekly Moving Average (WMA). I have a 50DMA and a 200DMA plotted on my chart. Some folks prefer to use an EMA (Exponential Moving Average), but it's entirely up to the individual.
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MC2016 PRO Nightstar
thanks - yes, DMA makes sense now. Being a bit new to all this I've yet to get to grips with daily cycles and such and have struggled to find any good accessible resource on them. Anything you could recommend on this or do you have a quick explanation of how it works? cheers MC
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I would recommend Gary Savage.. I've been following him for years and he's very good with 'Cycle Analysis'. You can subscribe or follow along on his free blog. Chartwatchers on tradingview also utilizes Cycle Analysis and Sentiment. He's got his finger on the pulse!
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MC2016 PRO Nightstar
Great, thanks for that. MC
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Are you still holding this position?
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Very much so!
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315 to $20?!! Scary drop this JNUG. Hope you hopped out at 315 for a big profit! i just started playing JNUG this week. So far so good.
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Nightstar Richmand808
?? Ahem.. I posted this article 2 months ago haha! A lot has happened since then, including a reverse split on August 25th :)
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2 months ago. True. I was drawn here by your comments on another gold users TV post and this old JNUG post caught my eye. Sounds like you are alive and well.
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Nightstar Richmand808
No worries. I sold towards the top back in August and waited for a correction. I bought some at $21 as well as $16, and picked up some more today just before the closing bell. JNUG should retest the highs around $30 --- Fingers crossed!

Did you pick up a few shares? Or are you sitting on the sidelines..?
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Yes, got out at 19.59 with decent profit already, thinking I could scalp, waited to long and missed the opportunity to get back in before it launched. lol We shall see what tomorrow looks like. TP at XAU 1350 if i get in, top likely 1357ish?
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jonesrj Nightstar
@Nightstar, Woops.
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