Loading ...NUGT 2 Using the Stoch 144 to help determine direction after a formation is spotted…
The odds were NUGT would break to the upside because the stoch 144 was above 50 denoting strong internal momentum…
Incorporate this indicator in your minute charts to assist…Also, DUST 2 had a sym triangle in the making but broke down at the same time NUGT 2 broke up…The stoch 144 was below 50
the dailies have a massive amount of pos div in the macd on the double bottoms, just about the most I have seen. weekly buy signals are intact as well and so I am going to hold this trend for now.jmho, who knows what can happen…
Massive bounce off that double bottom of GDX 13.00…All one can do is trade the momentum either which way…
ya its a crap shoot at best, they will square their risk at end of day which is meaningless in terms of direction for any timeframe. sucks…
interesting read on etf’s
http://kiddynamitesworld.com/leveraged-etf-trading-flow-case-study-gold-miners-gdx-nugt-dust/
This is the way to do it, I’d say. It’s just like WTIC with it’s pair of funds, UWTI and DWTI. The thing is, if you’re prepared to trade whichever way the wind is blowing then you can afford to be more conservative with your entry and exit signals since there’s always a second half to every trade. I realized this with crude that if I only captured 50% of the movement up, I was still ahead if I could capture the same amount down instead of just a 80% of the upside (UWTI). SA Viking over at the Chartology forum seems to do this sort of thing with a “pendulum” system which looks interesting. I think when markets get volatile one has to have some way of quickly discerning which way is the most likely direction things might go. It’s the only way to hold on to gains in this sort of situation I think. At least that’s the message I’ve gotten from this week’s ping pong bounce off the floor and ceiling.