Wednesday, September 28, 2011

BUY NUGT at $29.20



The positive divergence on this 4 hour chart of Direxion Gold Miner Bull 2X (NUGT) gave me hope for another successful short term trade.

My TSI trading record has been updated.
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4 comments:

  1. AnonymousSeptember 29, 2011 at 10:33 AM

    Wild Bill,

    John,

    What are the odds?

    As we stand now do you think the odds favor deflation from here and therefore gold going down now or do you think the odds favor the parabolic pop going into the end of the year as you chart showed and then the fall of gold.

    Thanks for all of your work and help!

    ReplyDelete
  2. John TownsendSeptember 29, 2011 at 10:37 AM

    Wild Bill - I wish I knew.

    Gold seems to be trying to bottom so I think in the near term gold is going higher, not lower.

    ReplyDelete
  3. GaryHSeptember 29, 2011 at 11:27 AM

    Think you're right John. GLD has been trading between 2 parallel lines on the hourly TSI for several days. Acouple of days ago it dropped down and is now back up. Won't surprise me to see it now break that upper horizontal line. I use a 6 day moving ave. on my 4,7 and that is just ready to do a crossover on the daily. If it does, I take that as a buy signal. Love your work, I learn more everyday and its making me good money when one reads it correctly and some goofy news disrupts and orderly market.

    ReplyDelete
  4. MrMiyagiSeptember 29, 2011 at 12:17 PM

    This market's volatility swings are turning a lot of swings to days.

    ReplyDelete

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