Hmm. Well I do believe this is it for me. I made tons of money in the gold stocks but now it's all wrecked. These gold miners are going to have to go private. They are making lots of money but none of it is going to their investors. That is a state of affairs that cannot continue. Not at least for me. Enjoy the casino!
No fireworks after the FOMC announcement means the upward trend in POG remains. The eerie trading "silence" you see in NUGT is the result of shorts refusing to give in. This too will pass. The jig is up.
Sentiment: Strong Buy
No, I'm definitely not short. It's actually a bit suicidal and certainly foolhardy how long I am. I don't normally spend this much time watching my money, but I have to have a trigger finger with this thing.
I thought the shoulders were supposed to be symmetrical. Frankly, I no longer find technical analysis of any use. Did some research and there is nothing in the academic literature to suggest chart-gazing makes a bit of difference. I do think it adds an air of scientific objectivity though, which explains his continued popularity.
Looking good. This will really be something else if we close green on the next trading day after options expiry. I'm not sure I can even remember when that last happened.
My thoughts are that if you hear of a bank run the first thing you do is sell gold. No brainer. And definitely sell gold stocks, especially if they have been correcting for two years. That's the best time to either sell or go short.
Maybe so raildawg -- but that doesn't mean gold is going to go up. Gold is in collapse mode as we speak. And this is after 8.4 percent annualized inflation!! This is a crooked country.
NUGT went on to reach almost $18.95 three or four months later. I don't think shorting NUGT on 6/21 was a good decision whatsoever. Sorry. You would have made more money going long at that point than what you have made short since then. Not to mention tying up your money for so long.
Hey Raincheck -- that's ferguson not me. Chances are NUGT will go down -- though I certainly don't know why it would go down. Tomorrow is options expiry, which will stabilize the price. I wouldn't short NUGT -- maybe a few months back. There's a time and place for everything.