That’s right.
I told you I would be re buying gold right around the time I saw The U.S. Dollar bounce completed.
Well………The U.S Dollar bounce will end tomorrow so one can’t get to picky about “the perfect entry” but….
I’m re buying NUGT here at 12.35. Right here…right now.
Looks like a great place to reenter during this consolidation. Sitting right on a couple different support lines. Could work out nice, GL!
Hi Kong – would love your thoughts on the SPX and US stock markets in general – they seem to running on extremely thin air but keep going up almost on a daily basis. With all the uncertainty in global economics, I am wondering why the markets are not pricing in any high risk event yet.
In my experience this is generally what happens at the top….as institutions have spent the past year selling to retail investors.
Retail “blows off the top” and without any further institutional buying ( as these guys are always ahead… positioning in gold…as well “short” risk ) suddenly……the bottom drops out of it….down -280 days 3 days in a row…and the vast majority of people get trapped long…then sell at a loss.
I would be banking any AND ALL profits in U.S equities here.
This thing is on it’s last breath.
What is currently taking place in the US indexes is insanity. On your NUGT trade what are you targeting? 15.50-16.50 looks good for a tgt area. This 12-13 area is providing some resistance, but the ret off this level seems minor so far. Overall, the trade looks solid, but I’d be reluctant to hold on a deeper ret.
15 would make for a fantastic trade – yes