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Direxion Daily Gold Miners Bull 3X ETF Message Board

  • razcount razcount Jan 19, 2012 6:51 PM Flag

    Buy more NUGT now? should i still hold?

    I bought NUGT at 21.80 I refuse to believe that it will not go back up based on believing that gold will hit 1680 in some time soon. With that in mind, would you wait for it to recover or are there other factors i'm not realizing? I'm not in a rush for quick profits ...

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    • just start off with buying calls and buying puts

      learn about that and honestly the best way to learn is to just do it. Start small like 1 call or put on something so you can see how it works. Most trading houses also have play accounts you can use, if yours does then do that and test them out before you commit real $$, with options you can lose your entire account in one shot and never get it back vs owning shares that will hopefully recover in time.

      Margin trading, Option trading and 2x 3x fund trading is not for the weak of heart and you must commit money you can lose.

      if you are using a cash only account then just be safe and play with a small amount and keep your bigger $$ in larger compaines or ETFS,s for example NUGT is a gamble while GLD is safer.

      Options on NUGT is super super volitie and you can make a killing or get wiped out instantly.

      Be careful and mangage your risk, remember making $$ is the easy way managing your risk is the hard thing.

      I also have a website that is my username just replace the dotnet with .net

      it is presently still in a test mode but hoping it takes off


    • i have been in NUGT many times but this time i sold most of my holdings for a small loss. Why NUGT was not up last week when Gold was up was very disappointing, that was a red flag that something is not right. NUGT should have went up to the mid to high 20's. I have kept a small postion in it and moved some money to a different gold miner company that seems to track NUGT pretty good.

      ALso you said you are not in a rush fo quick profit then this fund is not the proper one for you. The decay in it will tear your account apart. You need to look elsewere. NUGT and other 3x funds are for trading and trading only.


      • 1 Reply to xtradersdotnet
      • ohh i forget to add that gold is near its high and i have read reports that the average price they expect it to be by the END of 2012 is 1800 so there is really not much room to play with. It also depends on how EUR and the Dollar does.

        You can also play your hand at sliver to sort of track gold, AGQ and SLV are the 2 big ones. Be careful of AGQ though its a 3x fund and can bit you real hard.

        that does not leave much room and with a 3x fund can be really risky. But with risk comes reward as well. Just dont put your 401k money in this and hold it long term or you may have a very unpleasent surprise

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