Northstar-I wrote last nite at 6:51 this:
“Now the great trade could be to pick up some [JNUG} after hours and hope the $ comes in flat to down tomorrow…it doesn’t have to be down much, either & it’s time for a rest even if its going higher…that’s just my crack pot 2 cents…”
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That’s has happened–gold was up $39–and silver over 80 cents….as I write the cutomary pecking away has already started….it need not be fatal…when gold starts a bounce/bull move/ call it what u will…there are often steep intra-day pullbacks to “shake the tree”…and, there, are also snuffings of a move…one can only set a stop and hope the move has legs…the last 1/2 hours’ smackdown will have everyone nervous today…stock futures are already coming off a bit…could roll over or be up 2 grand by the close…
I am not sure but if u put a gun to my head, I’d say stocks give it all back…not a high confidence call…but if they do go red that will be very bearish cause they are entitled to a good bounce…the virus is not the cause of the trouble…it was just the pin that let the air out of the greatest–11 yr–bubble in financial history==
P.S.—gold should be $3000 no offer…at a minimum
Can’t argue with any of that Richard. Strange times we’re living in.
I would personally not be touching any ETF, much less a triple leveraged on right now. Way way too much counterparty risk.
I have made very good coin over the yrs with JNUG–a good trading vehicle….but u r right….ya gotta be nimble…it’s not a set it and forget it trade like CDEV or UWT