Not a recommendation to buy or sell anything. Please consult with a qualified financial adviser before making any investment decisions. I just thought I ought to put up a real trade since I'm spending so much time here these days.
Based on the fact that the 9EMA has crossed up through the 20MA and per my own trading method, I went long NUGT and JNUG on Friday, 01/03/2013. 25 shares each as a start to 100 share positions. I will add more, perhaps in 25 share increments, as NUGT moves up. What I'm waiting for now is a confirmation of the potential Wilder's ADX buy signal. The +DI line crossed up through the -DI line this past Thursday. That day NUGT had a high of 31.24. Confirmation of the Wilder's signal will come when NUGT closes above 31.24. Should NUGT drop below and close below the 20MA before moving higher, I will likely get out, taking a large percentage loss but only a small dollar loss. The chart of JNUG looks almost identical to that of NUGT.
The plan is to hold these for a while, weeks, months, or longer, so this isn't just trade. If I get knocked out of these positions because of closes below their respective 20MA's, I'll watch for another opportunity.
NUGT at 31.21
JNUG at 18.70
GL in the week ahead.
Based on the fact that the 9EMA has crossed up through the 20MA and per my own trading method, I went long NUGT and JNUG on Friday, 01/03/2013. 25 shares each as a start to 100 share positions. I will add more, perhaps in 25 share increments, as NUGT moves up. What I'm waiting for now is a confirmation of the potential Wilder's ADX buy signal. The +DI line crossed up through the -DI line this past Thursday. That day NUGT had a high of 31.24. Confirmation of the Wilder's signal will come when NUGT closes above 31.24. Should NUGT drop below and close below the 20MA before moving higher, I will likely get out, taking a large percentage loss but only a small dollar loss. The chart of JNUG looks almost identical to that of NUGT.
The plan is to hold these for a while, weeks, months, or longer, so this isn't just trade. If I get knocked out of these positions because of closes below their respective 20MA's, I'll watch for another opportunity.
NUGT at 31.21
JNUG at 18.70
GL in the week ahead.