20 replies to this topic

[tradesurfer]

I am quite tempted to go long the NUGT here for a possible 100% + upside move (in about 1 or 2 months) starting today/tomorrow. There are number of harmonic bullish patterns in various mining stocks. GDX is at a support zone. The dollar index looks like it is about to plunge to new lows in what could only be described as a pivotal key technical breakdown. It would be a very important downside break that would serve to provide strong upside support for metals. Many times in the past at critical junctures like this the dollar has surprised to upside but this time I don't think it does. As far as the 'news' tomorrow and Fed I cannot predict.... I am just trying to get insights from the charts now. thoughts?

[uburack]

I too would love to hear thoughts on both the dollar and TLT, thanks,

[diogenes227]

Gave in to that temptation yesterday. Got stopped out before I could say "Rumpelstiltskin!"

http://stockcharts.c...79431664478.png

P.S. Might want to think about that bullish percent index. When it turns up, it could be a pretty striking divergence. When it turns up...

Good luck and good trading.

[tradesurfer]

Gave in to that temptation yesterday. Got stopped out before I could say "Rumpelstiltskin!"

http://stockcharts.c...79431664478.png

P.S. Might want to think about that bullish percent index. When it turns up, it could be a pretty striking divergence. When it turns up...

Good luck and good trading.

It might be worth another shot at the long side after tomorrows announcement. The nice aspect is that the announcement does not come afterhours so there will be a chance to get positioned on a live reaction to the decision.

If a trade is placed today and a stop right under the previous low of the decline, a loss of 6.9% would occur if wrong..

[tradesurfer]

I too would love to hear thoughts on both the dollar and TLT, thanks,

my thoughts on the dollar are that if you look at it on the monthly chart it is saying it is on a the precipice of a huge drop and trendline support break.

seasonally gold is right in the apex of a huge potential move... but will the seasonals kick in ? that is the question

[dougie]

usually temptations to buy NUGt should have your buy finger either cut off or on DUST

[stubaby]

usually temptations to buy NUGt should have your buy finger either cut off or on DUST

[diogenes227]

Gave in to that temptation yesterday. Got stopped out before I could say "Rumpelstiltskin!"

http://stockcharts.c...79431664478.png

P.S. Might want to think about that bullish percent index. When it turns up, it could be a pretty striking divergence. When it turns up...

Good luck and good trading.

It might be worth another shot at the long side after tomorrows announcement. The nice aspect is that the announcement does not come afterhours so there will be a chance to get positioned on a live reaction to the decision.

If a trade is placed today and a stop right under the previous low of the decline, a loss of 6.9% would occur if wrong..

For What it's worth -- on the final four bars of today my sixty-minute trend turned up for the first time in quite a long time (14 days, a steady decline that was worth 59 percent on DUST, which, by the way, I did not have ). NUGT finished the day up 2 percent on the sixty-minute buy. Yes, indeed, might be worth another shot. Going to watch the open closely tomorrow.

Good luck and good trading.

http://stockcharts.c...79461229299.png

[tradesurfer]

probably the best time to take a NUGT trade is at 3:59PM and 45 seconds tomorrow and not a second earlier....

[tria]

I will be a heavy buyer on any late day weakness today 9/18, at least for a short term trade. A small NUGT position and Gold and Silver futures. Platinum's and Palladium's correction seems almost done as well with their OI having dropped to normally buying levels. -tria