Originally posted by: Cakes That's awesome but I just don't own enough to jump in and out so quickly. Maybe I need to change my way of thinking on this.
Costs me $7 to jump in and $7 to jump out with Scottrade, regardless the number of shares. With these leveraged ETFs quickness is essential.
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
Looking at the charts, there's support at the low 22s for GDX and the low to mid 11s for NUGT, although it probably has to bounce before that, because it is so oversold.
does the new forum software have the same bug as the old one where posts sometimes don't appear immediately? I thought that bug was one reason the software was replaced.
GDX has some pretty decent support around 22.10-22.20..that would imply NUGT in the mid 10s. NUGT is under performing GDX on a relative basis now, so as usual, NUGTs technical numbers are a moving target.
If that level holds I would expect a decent run up, otherwise look out below. It goes with out saying, this ETF has caused a lot of carnage to some peoples account balances lately.
Ha ha I definitely have fear...One thing for sure, NUGT will never have long term support in the true sense...but short term it can. GDX, which can have real support, has pretty strong support @22 which would be a mid to high 9 handle on NUGT, if 22 breaks on GDX convincingly, then all bets are off, imo
@bluelobster said:
NUGT probably has some decent support around 10
I'm thinking 11. Holding the big buy for a better entry.
So much for 10, NUGT now with a 9 handle. GDX breached support low 21.70 ish, Huge selling, might bounce if that holds within a couple of percent, but looking very iffy. Might nibble on a GDX call just to roll the dice, although the craps table is probably better odds ;~)
Edited 8 handle now..seriously epic sell off, down 50% in two days
Comments
I did a buy and hold but I am also greedy.
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
That's awesome but I just don't own enough to jump in and out so quickly. Maybe I need to change my way of thinking on this.
Costs me $7 to jump in and $7 to jump out with Scottrade, regardless the number of shares. With these leveraged ETFs quickness is essential.
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
Perhaps this is a contrary indicator
edit GDX has now broken support
I'm in
derryb....Hope you got out before the roof caved in.
I knew it would happen.
I'm in
derryb....Hope you got out before the roof caved in.
Holy cow, you're not kidding! That "stock" acts more like a casino!
I'm in
derryb....Hope you got out before the roof caved in.
Yep, but am jumping back in at a better price.
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
I knew it would happen.
I'm in
derryb....Hope you got out before the roof caved in.
Strength of conviction can often result in less money.
Knowledge is the enemy of fear
I'm in
derryb....Hope you got out before the roof caved in.
Strength of conviction can often result in less money.
Knowledge is the enemy of fear
I'm in
derryb....Hope you got out before the roof caved in.
Strength of conviction can often result in less money.
Knowledge is the enemy of fear
Lot's [sic] of dry powder
Fortunate son, America ain't failed ya yet, we guess
Liberty: Parent of Science & Industry
Lot's [sic] of dry powder
Fortunate son, America ain't failed ya yet, we guess
and Germany will live on! We're potentially saved by punishing them less! Great! Too Big To Fail, Too Big To Jail, Too Big To Fine.
Think of the moral hazard. Banks just need to keep little money in the "fines reserve account." Fines Lowered!
Brilliant!
I'm in
derryb....Hope you got out before the roof caved in.
Yep, but am jumping back in at a better price.
Stop gap?
I'm in
derryb....Hope you got out before the roof caved in.
Yep, but am jumping back in at a better price.
Stop gap?
pre-market hours trade for a 2.20 loss.
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
HE>I
Did you buy DB , when I said ? I bought a bunch of silver eagles today, too
Since I'm having trouble finding art bars with milk spots, I bought a few ASE at a bit over 21
HE>I
HE>I
I knew it would happen.
Bought another couple Gold Buffs. Gold is on sale. Silver too.
Yes, put in another order today for some silver. Business doesn't stop because of a drop, or spike.
HE>I
GDX has some pretty decent support around 22.10-22.20..that would imply NUGT in the mid 10s. NUGT is under performing GDX on a relative basis now, so as usual, NUGTs technical numbers are a moving target.
If that level holds I would expect a decent run up, otherwise look out below. It goes with out saying, this ETF has caused a lot of carnage to some peoples account balances lately.
NUGT finally on a nice move up to a point where I can lock in some stops that will ensure short term profit.
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
Quite a few GDX miners should be reporting positive earnings on 10/26-10/27. Likely to give NUGT a short term boost.
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
Up is a nice turn of events, I hope it continues.
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
GSR a good indicator for mining stock performance?
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
Up 12% thus far today, which means nothing when there's 3 hours left to play.
Stopped out for some gains.
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
Trumpmentum: $1500 by the years' end. NUGT- ?
Hillary: $1400 by the years' end. NUGT - ?
(http://blogs.barrons.com/focusonfunds/2016/11/01/election-2016-trump-better-for-gold-but-for-all-the-wrong-reasons/?mod=yahoobarrons&ru=yahoo
Hide the women and children, NUGT getting crushed today
And it should continue.
buying @ 12.00
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
NUGT probably has some decent support around 10
I'm thinking 11. Holding the big buy for a better entry.
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
Be cautious counting on support. The reasons to own gold are disappearing and fear is waning.
in @ 11.01
edited to add: out at 10.06
looking for a lower re-entry
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
Ha ha I definitely have fear...One thing for sure, NUGT will never have long term support in the true sense...but short term it can. GDX, which can have real support, has pretty strong support @22 which would be a mid to high 9 handle on NUGT, if 22 breaks on GDX convincingly, then all bets are off, imo
So much for 10, NUGT now with a 9 handle. GDX breached support low 21.70 ish, Huge selling, might bounce if that holds within a couple of percent, but looking very iffy. Might nibble on a GDX call just to roll the dice, although the craps table is probably better odds ;~)
Edited 8 handle now..seriously epic sell off, down 50% in two days
$7.57...getting delicious but I think I'll wait smoe more...no hurry here.
hold off. if India goes through with a ban on gold imports, gold will see a massive initial drop.
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan