AMEX:JNUG   DIREXION SHARES ETF TRUST JUNIOR GOLD MINERS INDEX BULL 3X SHARES
well, well, well... Jnug closed at $17.35! Right smack dab near my price target area of around ($17.50). And the week before it closed almost perfectly in the price target as well. So just to update, I think that Jnug will bottom around the $16.20 on Moday or Tuesday. Then with no rate hike, we will get a small run for a couple to fours days. I am looking at least to $26.50. Ill be watching closely at that level to see if it breaks through that wedge line to the $29+ range, but I doubt it. Next price target for 9/23 is around $21.50

Note: AS we progress, the other grey box price target areas may adjust like they have in this new chart
Share your vision about bottoming around $16.20 bottoming. Haven't analyzed the JNUG upside potential yet but, of the top, I think will surpass $29 if the next leg in Gold materializes after tomorrow
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SalN VirtualFax
I would love $29 but I am afraid that intervention in the currencies will defeat us achieving it. I just have this gut feeling that we get two days up with Jnug and maybe gold before it reverses. I see chop in a wedge. Then approximately end of 1st week of October, we start next daily cycle. Get a little pop up to $26.50 (JNUG) range before finally starting our downward slide. I actually think we get close to, but not quite, a double bottom near the levels of last December. However, I don't think we bottom until the end of January. I think the Fed will Raise rates on January31, Feb 1. Then up super hard for the next 4 - 5 years. That's a bit broad but Ill get detailed week by week. Ill even possibly change my view if I see fit. But as of today, that is how I see it.
Look at the bright side. If Im right, we can ride this bull up again.
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What is this freaking pop in Gold? I don't believe it's the start of the rally yet. Is it a pump before dump?
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SalN VirtualFax
so it looks like I cant get in as low as I wanted. oh well. still good for a 15% - 20% run
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Same here. However, the sell off show might not be over yet. This pop at this point is a suspect. We still haven't lived through FOMC and the ICL for Gold. I might be wrong but I have a gut feeling that we'll revisit the lows and then then some. And, unlike me only relying on my gut, Alex (http://www.chartfreak.com/2016/09/september-20-whats-happening-gold/) was actually able to build logic behind such possibility.

Anyway, I am not chasing the price but rather have my originally planned buy orders in place patiently waiting, just in case. The worst that could happen - I'll be running with the already committed half-position this time.
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