Looking for weakness in miners to get into DUST?
The right thing to do is to look for the vanishing strength to get into a bearish trade or, conversely, vanishing weakness for a bullish trade. When you witness weakness looking for a bearish trade .... you just might already be late to the party. The best you can do is "chase the dollar" and it's NEVER a good idea. Most of the people are doing wrong things and later wonder why they lose money.
For example: spot gold rallied above $1151 this morning, way above the UBB, the RSI was about 85. At the same time GDX was above $15.75 and RSI 87.40 (all #s are from the 30 min chart). RSI this high is almost a definite sign of vanishing strength. This was one of the day trader's wet dreams. DUST has gained about 11% in the next 2.5 hours. Another very similar situation was on XBI, on the bullish side. this one - LABU brought in over 13%.
This business has very little tolerance for mistakes. Make a mistake - lose money. No ands, ifs or buts.
And talking about 3x ETFs..... it's true 3x over, more factoring decay.. GL2ALL.
Don't get me wrong, I am not claiming perfect scores, but 7-8 out of 10 is good enough for me.
My little girl was back home for High Holidays, which coincided with a few other family occasions, and is coming back for Thanksgiving, so I do not plan to visit West Coast this year. I was there twice within two months (May and June) and my wife was there three times in the same time span. Will let you know if I make any plans.
My answer is in your topic "WHAT'S YOUR PREDICTON/GUESS".
Right now I have a day order to buy UGAZ @ $5.80. So far, it was two cents short to the target, I wish I moved the price.
As far as I can tell right now, the latter is true. But it is pretty ambiguous, the price is currently stuck right in the middle of "theoretical" trading range and all indicators are neutral. Perfect time to sit on the fence.
Obviously I meant DWTI, sorry for the typo.
I got out of these two prematurely and didn't find an entry one way or another into NG. Not yet anyway.
What a shame.
I am not smart enough to think and make intelligent guesses. I only read the charts and act when I deem appropriate. I am a day trader, I suggest that nobody follows the trades I post. Most often I do not post my day trades, but when I do, there usually is at least 5 min delay, that could make the difference between a profit and a loss.
Carter removed the Shah of Iran, that's how most of the mess in the Middle East started. It also marked the start of extreme Islam and international terrorism.
I agree that our first priority should be what's good for the USA but I do not think it's good for us to lose economic and military leadership in the world. And I agree that we should promote peace, but you can't do it in today's world, unless you do it from the position of power. Obama proudly announced that he forged an "unprecedented" alliance of 26 (?) countries that accomplished precisely nothing.
Yesterday Russian jets were bombing anti-Assad rebels, supported, trained and armed by the USA. Russians also told the USA they do not want American planes flying over Syria. Who would have dared to do it before?
Trust me, Putin is not there to fight ISIS. He went there to fill the vacuum in leadership and establish total domination of the region The change of the balance of power may very well prove to be tragic for the entire world.
UN is a joke. Saudi Arabia is running a human rights show? How much more funny can it get? National Security Council wanted to impose sanctions against Israel for retaliating a major terrorist attack and Susan Rice, at the time US Ambassador to the UN said: "It's with the deep regret I have to veto this resolution". I have very little confidence in the UN. I am personally convinced that UN has over lived it's usefulness.
You must have crystal balls, buddy.
I am going to say here, looking at GDX chart - the probability of NUGT hitting $3.30 tomorrow is no more than 20%, meaning: possible, but IMO highly unlikely.
I do technicals on $HUI, $GDM, or GDX - no feelings, no "believes". No Tech analysis on 3x ETFs.
"I win 100% of the time"? WOW - never heard of anybody hitting 100%.
Does that include your 50% gain shorting TVIX?
Your credibility is shrinking by the minute, buddy.
Last time tvix was at $10.30 was on Fri Sep 25th at about 9:30 am, about two hours before you were still defending this trade right below here... Check the charts.
Don't even know what it is. If you could just describe what's happening when NG goes up/down or sidewise would be good. Thx.