Tuesday, May 1, 2012

Sold NUGT @ $13.40

I sold my entire position in Direxion Gold Miners Bull 3X ETF (NUGT) today for $13.40 and a modest 7.2% gain. My best guess is that the miners are going to continue to rise, but taking a profit was what seemed like the thing for me to do for today.  

Today is something like Day 20 of Gold's Daily cycle and looks like it is now forming the handle of a cup with handle pattern. So, I do not intend to stay away from this long miners trade for long.

My TSI Trading record has been updated.

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