I am not bullish on the miners as a group because the technicals are bear biased and the fundamentals are not nearly all in place. But the ones I hold (smaller items) are generally doing well and the sector as a whole has been beaten enough, post-FOMC. They told me in Stock Trading Genius 101 not to be greedy so the NUGT short joins the … Continue reading Gold Miner Short Covered
Our little Nugat theme is all done now because I no longer like the taste of being leveraged short the miners. I am taking +15% on the trade and moving on now. This chart is bogus because these leveraged ETFs degrade more than the underlying asset they are leveraging. That is probably why NUGT is at the support defined as the October high and yet … Continue reading Spitting Out the NUGT
Yesterday I got to tell the world about my lousy trade, being short 3x gold miner bull NUGT. Writing a post about it was the easy part. Losing money hand over fist being short my favorite sector for the current environment was the hard part. Still, I gritted it out and stuck to my guns with one of the “guns” being a sense that the … Continue reading A Creamy NUGT
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 … Continue reading NUGT Short
