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Looking for weakness in miners to get into DUST?
The right thing to do is to look for the vanishing strength to get into a bearish trade or, conversely, vanishing weakness for a bullish trade. When you witness weakness looking for a bearish trade .... you just might already be late to the party. The best you can do is "chase the dollar" and it's NEVER a good idea. Most of the people are doing wrong things and later wonder why they lose money.
For example: spot gold rallied above $1151 this morning, way above the UBB, the RSI was about 85. At the same time GDX was above $15.75 and RSI 87.40 (all #s are from the 30 min chart). RSI this high is almost a definite sign of vanishing strength. This was one of the day trader's wet dreams. DUST has gained about 11% in the next 2.5 hours. Another very similar situation was on XBI, on the bullish side. this one - LABU brought in over 13%.
This business has very little tolerance for mistakes. Make a mistake - lose money. No ands, ifs or buts.
And talking about 3x ETFs..... it's true 3x over, more factoring decay.. GL2ALL.
Don't get me wrong, I am not claiming perfect scores, but 7-8 out of 10 is good enough for me.
FED Frauds can't let Gold go above $1150 / Silver $16 too much exposure on the derivative side, so the Market Banking Agents (FED #$%$s JPM main #$%$) will begin an endless sell of Paper ! This works until the entire complex breaks down and COMEX is sued to extinction, of course the CFTC is complicit in this too .
Good grief. This etf and the gold miner stocks are galaxies away from being in bubble territory. There have been many times when I have seen the price of gold go up and the miner stocks and etf do nothing or even go down.
you gonna lose everything here...design to fleece naive investors
Sentiment: Strong Sell
Wow, I was right, it's starting to pull back. Sorry guys.
But look at the bright side, my DUST position is doing much better!
btw, anyone whoever pump or bash here won't affect this much, JMHO. This is tied to the index, and that probably won't be affected by traders' opinion here.
NUGT is a very complicated instrument for hedging, so hard to understand for anyone. So stay short period of time, it is my 2 cents. It can up 25% a day and down 25% as well.