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The Round Rock Wealthbuilder's Meetup Message Board › Bought NUGT Friday at $5.43

Bought NUGT Friday at $5.43

Dan Caldwell - Wea...
user 3188546
Round Rock, TX
Post #: 193
Projected holding time: One to 6 weeks only. (Remember - ETF's are for trading only)!
Projected gain: 15 - 40% or more. Will depend on market and technicals.

Why now?

1) Hard reversal of early morning attempted slapdown on heavy volume. Same for gold and silver metal.
2) News out Thurs. that US Mint sold more silver eagles in first 3 days of March than in 1/3 of 2012 year.
3) Seeing positive divergence signals in multiple individual mining stocks.
4) Friday early AM trading felt like capitulation action.
5) NUGT is leveraged to GDX. GDX had a weekly bottoming DOJI reversal candle.


6) DUST - inverse ETF to NUGT on a technical sell signal.

IMO this recent shakeout attempt was to panic retail holders out of their mining shares and get them to also offload their gold and silver coins and bars. While the takedown in mining stocks has been pretty successful, every attempt to drive the price of gold below $1,550 has been met with robust physical demand, similar to US Mint sales this month of silver eagles. What this means longer term is that all the sellers of gold and silver futures contract are soon going to be asked to deliver. Therefore they're going to want to unwind those sales as soon as possible, even at a loss.

HOWEVER - the miners Bullish Percents chart (see previous post) has not yet generated a BUY signal. For those following Swami Vince's technical buy signals, it is prudent to wait for the confirmed buy signal. There are two upcoming events that could still keep prices suppressed (1) Friday, March 15th, is options expiration, and (2) we'll soon be entering 2013 Q1 "Window Dressing" period when this Qtr losers get sold even more and the Qtr's winners get overbought. Then 2 trading days before month end the qtrs weaklings start getting bought and the darlings sold.
user 3842200
Austin, TX
Post #: 11
NUGT.. Upcoming Reverse Split 1:5 April 1st (record date)

Copy of article: See the Uploaded File on the Meetup Website

Dan Caldwell - Wea...
user 3188546
Round Rock, TX
Post #: 205
Sold 1/3 of position for no loss/no gain today, 3/28.
1) ETFs are for S/T trades only
2) Technical setup expected NUGT to backfill gap at $7.50; didn't happen
3) I set time time limits on trades, and i had a hard stop to partially exit by end of month
4) Don't like the way all the miners stagnated at end of month; suggests further weakness
user 5664378
Georgetown, TX
Post #: 13
Looks like it broke downward, last drop of fear?
Buy when others are fearfull?
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