Yes i got into the bounce on NUGT today, but sold at close because like you said might be a trap, and as it did since a week, if gold does not rally with it no way continues to go higher. Same compared to SPY i got worried of potential correction because gold prices were not confirming the reversal, i think that is why we got a rally, that and other factors like VIX still below 14, have a nice week end to, cheers!
I think only GDX and gold break down 24 and 1300, the downtrend can be determined, current situation is really tricky, still possible elliote wave 2 is in place. especially sliver shown very clear bottom chart and start rally. I am on sideline right now.