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DIREXION SHARES ETF TRUST

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NUGT trade ideas

NUGT successful Pennant break out.Pennants appear at about the halfway point of moves. To be conservative, I'm using $26 dollars as the break out from the down trend and then the previous peak high of 40.17 as the end of the move. This gives a move of $14 which is then added to $40. The measured move then becomes $54 which is the next target price. I don't expect this to be anything at all like a straight line move as the gold ETF's have proven to be extremely volatile but when this reaches $54, if in fact it actually does, I expect another consolidation period perhaps in the form of a pennant or bull flag. BTW, the charts of $XAU, $HUI, and GDX all look the same and all broke out today. GL
AMEX:NUGT
by CurtisM
NUGT Daily: No discernible uptrend yet. All indicators continue to rise as does the stock. We've had a 9/20 bullish cross as the first phase of a fresh 'buy' signal and a second phase 'buy' signal when NUGT closed above the high from the 10th, which was when we had a bullish cross of the DI lines. The third phase 'buy' signal will come when the ADX crosses up through the falling -DI line. Based on what's happening in the gold futures market, this ADX cross should happen on Tuesday. Once the ADX has its bullish cross, then there should be some kind of obvious and discernible rising trend for NUGT. Right now it's moving higher but there doesn't appear any trend yet visible. Hopefully this will happen in the coming week. I added 25 more shares of JNUG to my existing 25 and did this on the 14th at 20$. I tried to add 25 more shares of NUGT on the same day but my order did not get filled. NUGT came within 2-3 cents and I was certain I'd get the fill so I went about my business and when I checked later, no fill. So I will add the next 25 sometime in the week ahead. The money that is moving into gold is coming from some other asset class or asset classes. I have absolutely no idea which.
AMEX:NUGT
by CurtisM
1
NUGT/JNUG GoldNot a recommendation to buy or sell anything. Please consult with a qualified financial adviser before making any investment decisions. I just thought I ought to put up a real trade since I'm spending so much time here these days. Based on the fact that the 9EMA has crossed up through the 20MA and per my own trading method, I went long NUGT and JNUG on Friday, 01/03/2013. 25 shares each as a start to 100 share positions. I will add more, perhaps in 25 share increments, as NUGT moves up. What I'm waiting for now is a confirmation of the potential Wilder's ADX buy signal. The +DI line crossed up through the -DI line this past Thursday. That day NUGT had a high of 31.24. Confirmation of the Wilder's signal will come when NUGT closes above 31.24. Should NUGT drop below and close below the 20MA before moving higher, I will likely get out, taking a large percentage loss but only a small dollar loss. The chart of JNUG looks almost identical to that of NUGT. The plan is to hold these for a while, weeks, months, or longer, so this isn't just trade. If I get knocked out of these positions because of closes below their respective 20MA's, I'll watch for another opportunity. NUGT at 31.21 JNUG at 18.70 GL in the week ahead.
AMEX:NUGT
by CurtisM
1