After a huge runn up today on NUGT, you might want to think about locking in gains. Notice previous tops happen a few days after huge runups. Also check the %R at very over bought numbers. I'm not saying time to jump into DUST. I just expect a pullback..
This ETF is a leveraged ETF to take part in the break out.
Given the large gains seen over the last two days, there could be support in the cards for leveraged minor ETFs following profit taking. NUGT, Direxion Daily Gold Miners, is the 3x leverage of the Market Vectors Gold Miners ETF (GDX). Price action is heavily to the downside, reaching support at $9.11 – forming a triple-bottom on the two-hour chart. Price visited...
NUGT has put in a .618 retracement after triple divergence led it to break previous resistance with momentum confirming the break. Our decline was not a sharp decline at all hinting that this was price taking a breather on somewhat lighter volume. I am looking for price to continue to its 127 projection with stops underneath previous lows.
update from yesterday. Made adjustments, Heading into the grey triangle. Any move up or down outside of this triangle could set the new trend. Still leaning long NUGT, green or red arrow up, but have to respect this action (red arrow down)until it shows itself.
Saw this, this morning. I would like to see NUGT break out of the potential HS here and current channel (rectangle box). Red circle, confirms no (red) HS. All indicators looking good to run higher. But you never know. IMO
ABCD patterns repeating, if we confirm escape velocity from the trend line to the upside, another ABCD completion looking good, then green arrow down, and repeat yet again? Top long term trend resistance at D, but red or blue? we will see. IMO.
Pick a Side Red or Blue. I want to see the RED play out, but I think it will be the BLUE What do you think???
I went long NUGT this past Monday, 11-10-2014, because on Friday, November 7th, the CCI rose above -100.Because I consider this to be a high risk trade, I bought only 50 shares. The idea is that if it does work out I will add an additional 50 shares and then let the position ride. I am hoping that this will turn out to be a mid to long term trade lasting from a...
The piercing line candle in the Juniors/Large miners got confirmation and the NUGT trade opened. Needs a lot of work, as PM complex is in a downtrend, but the chart present a possible ABCD, a C&H pattern, a falling bullish wedge that is about to break and everybody I know or I read is bearish or short gold and miner stocks. A lot, and I mean a lot of junior...
Out of NUGT and JNUG for now. Gold has had a nice run and I don't think it's over, but gold has clearly come under pressure the last few days. I will be watching for one or both of two things to happen before I reenter. I want to see the CCI drop below -100. Once that happens I will watch for positive divergence in CCI and/or for CCI to rise back above -100 as a...
After climbing up near the measured move target price based on the pennant breakout, NUGT went into the expected consolidation, filling the gap in the process. Now that this consolidation appears to be complete, I am looking for NUGT to climb up to the 200MA in the $57/$58 area. Could take a while but getting to that level would indicate that what to some may look...
Last week I pointed out that with the break out of the pennant formation, the measured move should take NUGT to the $54 area and NUGT came very close to that on Friday. And while I was looking for $54 to complete the measured move, I didn't mean or expect this to happen in one week. With Friday's gap up and doji, we have all the makings of an island reversal for...
NUGT made a higher high today but on weaker foot. Volume, RSI, MACD, Stoch all do not confirm the higher price. Expect a correction in coming days. Price target $44 - 43.
Pennants appear at about the halfway point of moves. To be conservative, I'm using $26 dollars as the break out from the down trend and then the previous peak high of 40.17 as the end of the move. This gives a move of $14 which is then added to $40. The measured move then becomes $54 which is the next target price. I don't expect this to be anything at all like...
All indicators continue to rise as does the stock. We've had a 9/20 bullish cross as the first phase of a fresh 'buy' signal and a second phase 'buy' signal when NUGT closed above the high from the 10th, which was when we had a bullish cross of the DI lines. The third phase 'buy' signal will come when the ADX crosses up through the falling -DI line. Based on...