2 replies to this topic

[Rogerdodger]

The P&F price objective of NUGT at 30 seems unlikely, at least without some attempt to consolidate above 35. The breakdown looks a bit like November's. But I think we saw some end of year selling of losers, followed by early 2014 buy backs. So selling pressure should be weaker, unless they can stir up the deflation reporting. Embrace the volatility and don't blindly fall in love with shiny objects.
I'm looking for some consolidation in here.
(Sorry, can't link to a P&F on stockcharts, but there is a link at the bottom of their charts.)

Being long gold looks wrong right now...other than a possible back kiss of that support I was watching for around 47.50ish.
The P&F chart of NUGT shows a triple bottom breakdown with a Price Objective of 30.

See Jack Chan chart: http://stockcharts.c...p...60190&r=301
http://stockcharts.c...p...48919&r=264

Edited by Rogerdodger, 26 March 2014 - 09:08 AM.

[Russ]

stockcharts pnf for nugt is predicting 26, but for gold it is predicting 1440, pnf obviously has some problems, both predictions cannot be right. I think the 1440 will be right now which is also what Erik Hadik thinks, he has been right on this, predicting the low at start of the year and then a sell off from the 17th to the 31st of March and is now looking for a strong rally with first target being 1425.

[Russ]

stockcharts pnf for silver is predicting 2 dollars! That is not going to happen.