Obviously the vote tonight threw a monkey wrench in to everything stock market related.
Those that follow me know I come in at the lows right when a stock is going to turn. I'm in and out in days for 20 to 100% moves.
I see this going to 2.50 to 3.00 by next Friday the 24th of June 2016.
Sorry, this is not coiling, just hit all time low today.
I came in here at $3.00 and sold $3.40s just a couple days later, it was my first ever trade on this. I would not touch this now, no way.
I pulled up the chart and I see what you mean, same on the DOW and almost there on the NASDAQ.
When it happened in 2001 then 2008 yep, major carnage in the market.
Thanks for pointing this out. I haven't entered TVIX yet but I am looking to and when I do it will be for 300k to 500k shares.
Things can happen. I loaded up on NUGT at $18.20, sold it from $50 to $75. Everyone was bashing it non stop at $18, how it was going to zero, yada yada yada.
DUST is close to my buy point. Close.
Bollingers are a terrible way to judge where a stock is going. Stocks can ride their upper or lower bands for a long time. NUGT got to its upper bollinger in early February at $30 and rode it all the way up to $57, consolidated and rode it up to $75, consolidated and now it is $80.
Same for DUST, early February it hit its lower Bollinger at $10 and rode it down to $5, then $3 and now almost $2. By your logic you would have said to buy it at $10 (which you probably did) and now be down 80% (which you probably are).
DUST is going to have a good bounce in it THIS WEEK but by no means use the Bollingers for that.
And please, learn how to spell Bollinger.
It was in late November, not October. And this will have a huge bounce up in it THIS WEEK, probably 30%, but that might only bring it back to the 2.60s but that is ok as I am on the sidelines waiting to pounce, I'll make my one trade, make my $50k and on to the next.
There is no way they would do something like that before the Presidential election. Zero point zero chance.
But DUST is not factored on the price of gold. DUST was down almost 10% Friday and gold bounced from positive to negative and back and forth.
You should not be trading this if you don't even know the very basic fundamentals of this ETF.
You let strangers on a message board convince you how to invest your money?
Why don't you just cut out the middle man and send it to me?
And today is now one of the worst days here, down 5% and making all time lows and there is no support at all.
And all while gold is even.and GDX is barely green.......
Not only is it down huge, it is at all time lows. NEVER get sucked in to a pump in pre market, if anything on these ETFs always do the OPPOSITE of pre market. That works about 90% of the time. I bought NUGT in the PM dump and sold it for a quick 4.5%. I might buy DUST now at 2.70 for a short reversal by lunch and make a quick 3 to 4%.