AMEX:NUGT   DIREXION DAILY GOLD MINERS BULL 3X SHARES
1101 11 34
GDX             , NUGT             , GDXJ             , JNUG             were in a sell off mode on Friday. Not only the dollar is decoupling gold             but goldminers also.
This is strange... While gold             is printing a good rally miners are printing a bearish pin bar.
They should follow gold             .
DUST is the inverse fung of NUGT             I post this chart because I know a lot of you are in DUST and JDST             .
Next week will be very important. It will give us the answer for DUST also...
I still think that we have have one more leg down in GDX             , GDXJ             , NUGT             , JNUG             and one more leg up in the inverse funds (DUST, JDST             ).
Watch the RSI . It's leaving overbought levels. In the past this move always predicted that ugly things are coming.

This also supports my idea that gold's rally is a nice artificial move.
Do the big players know something what we don't??? Is this the reason they were selling miners after the breakout from the flag instead of buying more as gold             is in a rally mode???
Next week will give the answer.

I'm not going to short NUGT             just set the idea as a short to show the direction.
toothless
5 months ago
Thank you, chartwatchers! Giving us your insight, even on the weekends.
Reply
RaimondasKarth
5 months ago
Thank you Master
Reply
toothless
5 months ago
By the way, it was also odd to see DUST move up today while gold was trending up.
+1 Reply
Billeci toothless
5 months ago
I noticed this, too. I'm not smart enough to understand the various variables that move DUST / JDST and NUGT / JNUG outside of gold's price movement, but in recent trading sessions when gold was lower in price before the NFP numbers were released, JNUG seemed to move solidly up on any positive trend reversals pushing gold prices higher. Yesterday, JDST seemed to be extremely resilient, seemingly looking for any reason to react positively (again only looking at it in terms of gold's price movement).
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kizly
5 months ago
I think in the days before gold miners have outperformed gold by far. I think this was only consolidation of the status to normal difference between gold/miners.
snapshot

/JDU
Lost nice money trying to catch Dust. Even during day trading DUST/ JDSTand NUGT /JNUG were oscilating a lot from expected values - I thing maximum was 2% and 4%times GDX while they are targeting 3%. Here I recovered some money as they always come around +-GDX.
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GregGibbons PRO
5 months ago
Thank you Arpi, you are very much appreciated, keep up the Great work, you are teaching us how to fish for ourselves!
Reply
bertcoin PRO
5 months ago
Thanks again Arpi. Weekly bullish trend line of 1281 in XAUUSD not reached Friday. Another data point. Still nibbled long in DUST. Very exciting week ahead. Where there is chaos....
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Nightstar
5 months ago
Agree 100% -- I posted this chart on Friday on another post. Your Analysis confirms it!

Long DUST @$10 but keeping a tight leash on it in case the Market throws a curve ball :)

snapshot
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Nightstar
5 months ago
Also worth noting.. The Miners 'out-performed' Gold and Silver during the initial run up. They are now trading way up above the 200DMA -- a risky bet in my books. The only thing that looks tempting right now is Silver, not to be confused with Silver Miners.
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traderzaius
5 months ago
Rally will be tomorrow :)
Reply
traderzaius traderzaius
5 months ago
Boom goes the dynamite!
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