NUGT: Time to Shine Gold (3X Bull)Time for metals to shine?
Extreme volume in a very peculiar bar.... seems to me like big ol´accumulation by smart guys.
Low Risk High RR Trade guys.
NUGT trade ideas
$NUGT long swing ideaAfter being severely beaten down from late February to mid-March; $NUGT has formed a clean short term bottoming pattern and now appears ready to pop. I like it long over $10.40 with a $14.92 target. My suggested stop for this trade will be the low of the entry day.
NUGT - TIME TO SHORT AGAIN0. The miners will unwind first. We have made so much shorting this in the past.
1. This looks like the time again.
2. We are long DUST, and SHORT NUGT.
Looks legit, anyone still in $DUST ? - $GLD $NUGT $GDX $GDXJ Gold miners are clearly worthless now that gold is down 10% from the high.
Does anyone know who planned this event?
Two target price ranges in $NUGT based on $GDX resistance levelsOverhead resistance for GDX is to be found at $35.50 and $39
Assuming that GDX reaches these levels over the next 2 to 4 weeks $NUGT could reach $53.50 and $64.80 respectively.
GDX will open above $31 to $31.79 resistance which puts $NUGT at $42.0 to $42.70
Daily RSI will indicate a hold long.
bull minners etx 3x gold (NUGT) in falling wedgeabout to complet this bull pattern for another leg rup up .. keep holding long or buy positions now in all this area
$NUGT and Gold with Seasonality ( $NEM, $GOLD $FNV)Looking at the breakdown of the top 3 holdings $NEM $GOLD $FNV and the rounded bottom here on NUGT we might have a nice move to the upside with the seasonality of the gold sector and the Gold futures hitting breakout highs. We will see if we hold the highs this week on the Gold Futures
$NUGT profit margin AND multiple expansion $JNUG $GDX $GLD $UGLDMiners have yet to catch up to XAUUSD, It looks like Gold at $1620 will happen within the next month. I estimate that would take NUGT to ~$54.
Looking to enter around 22.9 tight stop lossI'm looking for gold to pullback one more time before launch, Great point to short currently. Will start buying near spring. Short now, buy @22.9
NUGT - Miners Rising!NUGT has traded to the top of the uptrend channel on a very strong day for gold. I'm not going to get too excited yet but this is starting to look like a change in character. Miners sold off for three months and have been working on a base over the last month. Hang on this is going to be one heck of a ride! 2020 the year if the metals!
Miners rounding bottom?The gold miners' ETF is testing its downward trend line again today, and may be in the process of making a rounding bottom. Buy low in the crescent or watch for a bullish trend line break. Gold has been showing some strength due to Fed policies and dollar weakness. It could break out upward on news of either significant market weakness or a breakdown in the US dollar.
Target for $NUGT at different $gold spot prices $GDX $NUGT $JNUGThe ascending triangle in the gold price displayed here:
Has produced the consolidation wedge displayed in the green triangle pattern above in $NUGT.
A return to the recent highs will likely send $NUGT back into the $36 to $38 range.
Gold is, momentarily, no longer inversely correlated with the stock market. Negative real interest rates globally and the inverse correlation with USD is now the primary driving force in the price of gold.
Lower interest rates and (not QE ) QE are repricing the US dollar against major world currencies and gold:
NUGT - looks coiled and ready to go!Tested smaller FIBs yesterday morning and today. Larger FIB holding. MACD and RSI looking promising. I think gold and miners ready for a little rally. Fed decision and probable future language regarding wait and see on further cuts already baked in. There will be some volatility but my bias is up for now.
NUGT - up or down?Sitting at its 200 day line and an important breakout area. I see this going higher. AAPL analysts raising targets to $280, market at all time highs, and a belief that the Fed may stop easing because all is well, just seems too good to be true in light of all the issues cropping up in other areas. Brexit and China "deals'" saved the market once again. Both NUGT and GDX are working on an 8 week downtrend line. Everybody wants the breakout on gold at $1365 to be the test area. Miners at an inflection point. Which way do we go?
NUGT longPretty messy DW but I like it for a long selling premium on it, sold 25 puts, bought 20 puts for a bull put spread. 163 credit received, 37 days out
bull minners about to take off soon NUGTBUYING RIGHT NOW LIKE JNUG IN THIS LEVELS THIS BULL 3X GOLD ETF , SOON THIS BULL FLAG WILL BREAK AND BOOM
NUGT - ready to blast off?This name looks like it came back to an important breakout area. We don't buy bottoms but this is probably a good place to start building or adding.
