Direxion Daily Junior Gold Miners Index Bull 2X SharesArca
Description
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Hopefully history repeats itself.
NUGT and JNUG in stochastic "oversold". The last few times the long stochastic red line was in oversold territory (< 20.0) there was a day or two in the same area, then price moves back up. The last time this didn't work was in summer of last year, so usual 10% stop loss applies here. Don't want to catch a falling knife.
I'm hoping the same thing happens here. Opened a small position in JNUG trying to catch a bounce.
In @ 7.82.
Comment
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Some of you guys liked this idea. Wish me luck!!
Comment
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Yay this position has finally turned positive. I'm hanging on over the weekend. I was close to getting stopped-out.
Trade closed manually
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After being grossly negative on this position I closed it today at slight gain. I averaged down @ 6.80 a few days ago which brought my average down to $7.40.
Out at $7.60. Lesson learned: I was a day early entering the position and got greedy. Should have just sold when this thing was up 5% a few days later. So: if you enter a position and it drops 10% the next day, then goes up to break-even the next few days, SELL.