AMEX:JNUG   DIREXION DAILY JUNIOR GOLD MINERS INDEX BULL 3X SHARES
431 16 9
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.
no new updates?
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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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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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