Nice little early morning sell-off. Being short the gold minors is looking extremely good here-- they are simply hemorraging money. They were already losing money prior to this gold sell off. Ouch. I never, and I mean never play the leveraged ETF's-- but I'm going long DUST. This trend remains is place for a minimum of a couple of more months-- maybe much longer. There is never a sure thing in the stock market-- but shorting NUGT, or going long DUST-- is about as sure as it gets. I just don't see how the minors stay profitable, huge costs and declining commody value.
I'm going to laugh if DUST finishes in the black here today. Traders-- don't fight the trend on this one-- especially with three x leverage-- that is crazy. The very short-term bounce today in the miners is just that-- a very short-term bounce, which is already over. It should be fun to see how high DUST goes in coming weeks-- I think this parabolic upside move still has a very long way to run.