JNUG stochastic oversold
Updated
Hopefully history repeats itself.
NUGT and JNUG in stochastic "oversold". The last few times the long stochastic red line was in oversold territory (< 20.0) there was a day or two in the same area, then price moves back up. The last time this didn't work was in summer of last year, so usual 10% stop loss applies here. Don't want to catch a falling knife.
I'm hoping the same thing happens here. Opened a small position in JNUG trying to catch a bounce.
In @ 7.82.
NUGT and JNUG in stochastic "oversold". The last few times the long stochastic red line was in oversold territory (< 20.0) there was a day or two in the same area, then price moves back up. The last time this didn't work was in summer of last year, so usual 10% stop loss applies here. Don't want to catch a falling knife.
I'm hoping the same thing happens here. Opened a small position in JNUG trying to catch a bounce.
In @ 7.82.
Note
Some of you guys liked this idea. Wish me luck!!Note
Yay this position has finally turned positive. I'm hanging on over the weekend.I was close to getting stopped-out.
Trade closed manually
After being grossly negative on this position I closed it today at slight gain. I averaged down @ 6.80 a few days ago which brought my average down to $7.40.Out at $7.60.
Lesson learned: I was a day early entering the position and got greedy. Should have just sold when this thing was up 5% a few days later. So: if you enter a position and it drops 10% the next day, then goes up to break-even the next few days, SELL.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.