Tuesday, January 10, 2012

Sold NUGT @ $23.40 Pre-market

I sold my position in Direxion Gold Miner Bull 3X ETF (NUGT) at $23.40 in the pre-market.

My TSI Trading Record has been updated.


  1. Woah, John,

    that's some fast trading. But if your charts show that all is well, why sell so fast? Kindly enlighten?

    Thank you and best regards,

  2. Great job calling that one. I didn't see that pop coming at all. Do you think the PMs retrace a bit now before the next leg up?

  3. gold miner:John U are the best,I sold my DUST yesterday,bought NUGT,But want to hold it a little bit and see.

  4. grrr... I just lost a long comment trying to get it posted. Here's a condensed version:

    My count of your 4 hr 40 bar cycle has us on either bar 46 of the cycle that began on 12/29 or bar 10 of a new cycle that began at the low on 1/8. I would tend to favor the second scenario because the first would have two very long cycles back to back.

    Where are you with the 40 bar 4 hr count?

    If you favor the count that has us on bar 10, then what caused you to sell your position this morning?


  5. Nice buy. I bought some mini gold at around 12am last night with a 4hr trendline break and zero crossover buy signal.

  6. Compliments appreciated, thank you.

    I guessed correctly that a new 4 hour cycle was beginning and that a position in NUGT would do well.

    My bias is to be wary of gold completing the D-wave with a final sky dive towards $1400. I also believe that the stock market will soon fall apart.

    We are now in the second 4 hour cycle of the daily cycle. If this daily cycle is going to be left translated and gold fall to new lows odds are high it will begin soon and within this four hour cycle.

  7. Thanks John. You are making my recent position in TZA seem a little better :) I was a day too early it's looking like. Hoping at least..

  8. Mike - looking at TZA it could turn around real soon. Be sure you know how much of a draw down you are willing to tolerate and then sell if you get there.

  9. Anon - I think last night's post identified the four cycle low accurately. And it now stands at 11 in the second 4 hour cycle.