SalN

Jnug to Gold "BBands tightening again, Big move coming soon"

AMEX:JNUG   DIREXION DAILY JUNIOR GOLD MINERS INDEX BULL 3X SHARES
Yes a big move is coming soon and I think that that big move is down. Last Fridays poor price action for Jnug             is the writing on the wall. With such a strong break up for gold             , Jnug             should have behaved better than that if there was strength. So while I think gold             will continue up towards the top of its wedge , I think Jnug             may not perform that well. I wont guess on a price top for early next week but I will be monitoring it closely. Then I will sell my Jnug             and buy JDST             . I am hoping that Jnug             can retest the red zone again and hit the $20 area but I am losing faith in the ability for it to fill that upper gap. The JDST             gains should be very large over the next two weeks starting after Tuesday is my guess. I am fully expecting Jnug             to drop all the way down to $9.40 - $8.15 range. I am looking for GDXJ             to drop to first test the December lows of $27.47 range. If that breaks then I would look to $26.35 range. If for some reason we actually get that low, then there would be nothing that I can see stopping a drop until $21. To put things into perspective. Since Jnug             tracks GDXJ             . If GDXJ             drops to the $27.47 range, that would be a 14.8% drop. On February 24th and 27th, GDXJ             dropped 13.6% in two days which translated into Jnug             dropping 36.66% in two days. That would bring Jnug             down to $10.95. And I think we will go lower than that and get to the $9.35 to $8.14 range. If we get to $8.14, that would affectively be a retest of the 2015 lows for Jnug             (reverse split included).
After we get down there then I fully expect the Fed to raise rates and we get another rally. But it seems that the rallies are smaller and smaller. This once might be very short lived, maybe a month or two at the most?! That's a little two far in the future but I have been predicting that gold             has not started its bull market and that gold             will drop hard into early next year.
I will post my GDXJ             chart and Gold             chart next. GL
评论: GDXJ Chart with price drop measurement
评论: gold chart
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Boy are we wound tight. I think tomorrow Jnug will make a move. However, I am taking a chance to hold Jnug one more day. I don't suggest anyone try this at home ;) What I mean is that this could easily break down tomorrow and continue down for the next couple of weeks. It is a good bet to buy JDST after watching the price action tomorrow. Since I think that gold is going to go up for one more day until the ADP report on Thursday, I am hoping to get a little bit of a bump in Jnug just for tomorrow. I am hoping that the big money creates a false move positive for Jnug like they sometimes do only to reverse course maybe in the same day. So Tomorrow is a big day for me. I just don't think Jnug will maintain that wedge for another day. It could but is doubtful.
评论: 4 hours gold chart

It might be too early to say this but, there might be a small bullish divergence on the RSI 5. There was one last week and that led to the break out move above that red resistance zone. I could be wrong of course but this is the small count I am watching for gold. This is also the reason I am taking a chance with Jnug for tomorrow. GL
Sain, don't you agree tht gold breached the 5 year downtrend line? If so what implications are you seeing it have on your model? It's interesting that miners are still as soft as they are.
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Sold JNUG after open a.m.
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FYI I called direxon, and they said they know JNUG is not performing well and I should get in JDST /Nugt for a few weeks.
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SalN dsankie21
@dsankie21, good stuff. Keep it coming
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bingwu dsankie21
@dsankie21, not quite get it. Time to get in JDST now or get into NUGT after a few weeks? thanks
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SalN bingwu
@bingwu, I'm in jdst now. I can't tell you what to do.
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@SalN, Yes, I know. Everybody should be responsible for their own trade. I just not understand what dsankie21's message mean? Kind of confuse about "Get in JDST/NUGT FOR a few weeks".
Thanks.
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@bingwu, JNUG is having issues. Use either the stock symbols NUGT if you desire a long or JDST. JDST is the inverse of JNUG. I'm guessing JDST is a safer bet for the next few weeks.
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No clear direction. But gdxj looks like wave 2 was low at 29,33. Then (i) at 34,1, Then a-b-c down. C = (ii)= 31,09 ( 61,8%). Then (iii) will be 38,77(61,8), (iv)= 36, (v)= 42. I am back in JNUG from day low and wait.
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JNUG is done as of today I think.
XAUUSD up, JNUG down ... can't get much weaker than that! haha
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