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Note the positive divergence and the 61% fib…
When the Stoch 5 leaves 20 is the BUY signal…
Coincides with NUGT 15 about to break out of BULL flag…
How high does it go? The 15 minute charts when the time is right will give the clues…
Eagle, its not my intention to be confrontational, just offering a different view. I see what you are saying with the positive divergence, however couldn’t one just observe that these indicators are basically pinned to the floor. There is little to no pulse in them. They are configured actually to allow a downside whoosh. That’s not a prediction just an observed possibility.
From a psychology standpoint we caught an awful lot of players on the other side of the move from a few weeks back. I see this as a dangerous backdrop.
We are going to find out soon either way.
Always appreciate your opinion Plunger…As of 3/8 after hours, still need confirmation on the NUGT 15 chart…Again, thanks for your perspective and always good luck Sir!
I think a short term trading low is near personally, obviously it is difficult to know is it is just a short term low. I’ve covered shorts and added longs FWIW.
Cheers Eagle. Will be watching closely.
I am buying GDXJ and GDX again now in stages. Plunger was spot on with his predicted price target for GDXJ. No doubt it may fall further and I may have to exit, but we will soon see. I also have my longer term core holdings like marathon, Guyana, B2 gold etc, which I took some profits from a few weeks ago, but will now look to add to.
Great article from Taylor Dart on GDX here: http://seekingalpha.com/article/4052996-gdx-low-can-go?app=1&uprof=45&isDirectRoadblock=false
I subscribe to his newsletter and it is a great guide to the juniors as well as other US stocks.
Thanks to all the posters and always great to see the bearish case, as that keeps us grounded and hopefully avoids too much exposure.
Back in Uranium now as well. Took most of it out a few weeks ago but looks good again now.
The only short in the PM sector I retain is my short of CDE. I have moved on to oil. Using the vehicle UWT. This is a great vehicle, unknown since it is just out for 3 months, but trades huge volume. Lots of decay so you can get on the other side of it and have it work in your favor. Long for the day I can be full long the PM sector, but not now.
Just throwing this out there, is it time to start being worried about bank insolvency issues when dealing with the ETF’s since everything is connected? Anyone care to elaborate?