7 replies to this topic

[Rogerdodger]

I tried to post this pre market yesterday but for some reason I can't gain access to TT unless I use a "Private Window" feature.

 

(I drew this "Line in the Sand" before the open Wednesday. Those lines seem to almost predict the future.)

Anyway I bought NUGT at 12.05 on Monday, looking at the oversold RSI bottom.

Wednesday I bought some more early and then I sold Wednesday afternoon near 15 when the 5 Minute RSI reached an extreme AND was approaching the LINE.

 

I wondered if the gap above might be attempted this a.m..  It's pretty steep and would be easily broken.

Not looking good today. RSI couldn't even make it to 50.

Could be the "Ballet Dancer" squat before the leap...?

Could be a dollar blow-off?

Edited by Rogerdodger, 21 October 2016 - 09:35 AM.

[diogenes227]

Nicely done!

 

With NUGT and DUST, less like ballet and more like ice skating. Jumps here often end in serious falls.

Edited by diogenes227, 21 October 2016 - 09:39 AM.

[dougie]

Complex h&s?

[Rogerdodger]

I like the weekly chart on NUGT.

3 weeks ago saw blowout volume which is usually a sign of selling exhaustion.

This week saw higher highs and higher lows lows.

If the dollar can calm down...A fat lady named Katie will bar the door and sing. ;-)

But there is another LOL just overhead near where that ugly gap is on the daily.

Edited by Rogerdodger, 21 October 2016 - 01:53 PM.

[Russ]

I am seeing more towards the middle or end of November for the low on XAU.   Mr. Dev's favorite moving averages on top chart....

 

 

 

50 ma getting ready to cross 200?

 

Edited by Russ, 23 October 2016 - 02:44 PM.

[Rogerdodger]

Russ, interesting charts.  "W" bottom would be interesting.

But I seldom hold these 3x etfs more than a few days, if that long.

Today looks like the ballet dancer was crouching for another jump.

If it pops 15 that will be another week with a higher high.

I bought back a small position Friday when the lower price held near 14.

If/when it gets violated, that will trigger some stops. (It;s also May & June lows area)

Edited by Rogerdodger, 24 October 2016 - 08:28 AM.

[Russ]

Hi Rodger,

 

Always appreciate your work. Holding NUGT from last winter into summer would have given you a 10 bagger, not too shabby.  If nugt drops into that 5 to 7 dollar ranger perhaps that would be a good buy, I am looking at Nov as I said.

 

Cheers

 

Russ

[Rogerdodger]

Well today is sitting right on the top of that short LOL uptrend line.

With the likely volatility to continue, I'm keeping the powder dry until...shall I say, the "DUST" settles. ;-)

Edited by Rogerdodger, 07 November 2016 - 10:24 AM.