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BBTrader29

JNUG Capitulation Snapback

Long
Direxion Daily Junior Gold Miners Index Bull 2X Shares (AMEX:JNUG)  
BBTrader29  
AMEX:JNUG   Direxion Daily Junior Gold Miners Index Bull 2X Shares
Chart Patterns Trend Analysis
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chartpattern trendanalysis
JNUG has had a crazy decline in its ETF due to the fall of GOLD. It has blown past oversold signals and now has capitulated, where the sellers have all gotten out and now there are only buyers left. Today had 20x relative volume of selling. This signals to me a bottom in Gold for the time being. The risk is 5:1 with no real downside, as GOLD will not go to zero. Taking a standard risk of only 2.5% of my account in this play.
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