Long
I put on a 30% position in JNUG yesterday and have been actively adding in the pre market this am. The DSI on gold is only 16 and not at the preferred 10. The flag we have all been watching appears to have held and we see.
I put on a 30% position in JNUG yesterday and have been actively adding in the pre market this am. The DSI on gold is only 16 and not at the preferred 10. The flag we have all been watching appears to have held and we see.
Yes, there seems to be underlying strength here. A breakout will happen sooner or later.
I never followed this vehicle, so after your post I went to the chart. I see it is a 2x leveraged ETF but how the hell did this thing not exceed it’s Feb. high when gold soared up to early Aug? and the gold stocks(mostly) made new highs. I think you might want to consider a pure bullion ETF if you are going to use leverage or just stay away from the leverage ETF’s altogether.
Rambus and I have been calling these Leveraged PM Miner Trades Kamikazi Trades
They are only for short term Impulse moves….they suffer from Decay ( much like options…but worse) see post above