468 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?
Are you still holding this position?
Very much so!
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.
Nightstar PRO Richmand808
?? Ahem.. I posted this article 2 months ago haha! A lot has happened since then, including a reverse split on August 25th :)
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.
Nightstar PRO 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..?
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?
jonesrj Nightstar
@Nightstar, Woops.
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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