a very simple do it yourself exercise :
on yahoo pull out GLD interactive chart for 10 years. Color it RED
then on the same chart go to comparison... and type in GDX, u will see GDX relational chart come up
choose BLUE color for this one.
finally go to comparison on this same chart and type in NUGT and enter... choose the neon Pink for this
u will now see 3 charts simultaneously for GLD / GDX and NUGT.
What do you see... is there ANY correlation ???
My chart shows..... GLD up 95% as of 05/20/16 GDX DOWN 65% and NUGT down 99%.
Yes... GOLD is UP 95 % from 2006 -2016 .... while GDX and NUGT are down 70 and 99 %
Anyone care to explain the "correlation" IF ANY
forecasting is NEVER a guaranteed science... no one can forecast wrong or right.. u can
just forecast and hope the outcome is close to your forecast... have u been wrong on your
forecasts ?? does that mean u forecasted the wrong ... or that your forecast was wrong..?
tell the kid to stay away from the robber... because the crooks will never change.. they
will continue to rob and steal and destroy.. no matter who.. kids/ oldies / newbies...
this will keep dropping for a long time... it is evident that the "rally" in gold was a bear market blip.. she
failed to cross over the other side of 1280.... now we see it testing its 200 dma at 850 -880 area..
ouchj... that means GDX will be getting ready to reverse split 1:10 and NUGT 1:100, I would
get out of NUGT if long ... this thing is toast... it always was.... look for DUST to surprise... model
shows an unbelievable upside to $ 785 per share....
so why are u playing the game ?? all u have to do is ban yourself from messing around with 3X
and all is well as far as u are concerned.. NO ???
just 4 months ago on Jan 19 GDX low was at 12.45. it is up a whopping 100% since then...
on NO FUNDAMENTAL NEWS.... (the debt, the feds, the negative rates, etc etc were there
in January... NOTHING... absolutely NOTHING has changed since then... except that they
have tried to squeeze out the gold shorts / gdx shorts.... Short covering rallies are violent on the
upside, but on weak footing and are very short lived.... we see GDX at UNDER 10 this year
and NUGT getting ready for a 1 :10 reverse split...
I would consider some one genius if he / she had predicted that
oil will sell off from 120 down to 25 and DWTI will rocket from 60
to 500. Did u ? I mean anyone with a little common sense could have
predicted the 25 low on Oil and a bear rally to 50... so what ??
sorry to pop ur ignorance ... but NUGT is presently at 88 / 500 = 17 cents ... yup
ur NUGT is trading 1:500 reverse split... sooo... which is the penny ETF ??
some times deep in the money sell at a discount... since there are no bids
and... I normally strangle it.. for eg in your case if you bot a May 20 710 put
with less than a $ 1 premium... tomorrow both ends would get exercised...
and u don't have to pay for the bid-ask spread