NUGT Short

In the screen shot intro for NFTRH 347 a couple posts ago it was noted that the short position in NUGT was covered.  Profit was taken on the short amidst a reduction in risk by other indicators.

But that reduction in risk is not a fine market timer.  As today’s rally began to fizzle I re-shorted NUGT to go along with my few holdings in the mining area.

The daily chart below shows what could be interpreted as a bullish falling wedge.  But the sector’s technicals continue to stink if we’re going to be unbiased about it.  Let the technicals show something.

[edit] Silver-Gold ratio tried to bounce today, which would be a positive if it comes about.  But we are only talking bounces as the weekly chart shows.


Subscribe to NFTRH Premium for your 25-35 page weekly report, interim updates (including Key ETF charts) and NFTRH+ chart and trade ideas or the free eLetter for an introduction to our work. Or simply keep up to date with plenty of public content at and Also, you can follow @BiiwiiNFTRH.