Much ado about nothing. ETF’s, that is.
Here are some Exchange Traded Funds representing the Gold Miner Stocks contained in the GDX and XGD.To(Canadian) ETF’s, there are double leveraged as to the underlying ETF or Index. Plenty of volume out there should you decide you want in. Given all of this, these are representative and unlike the NUGT and JNUG series, are only Double Leveraged, which, has moved fast enuf for me. Working this kind of trade requires both attention and nerve.
, For those that this is not intense enuf for, there is still AGQ, and ZSL, Double Levered with Silver Metal, HZU.To and HZD.To, the same in the Canadian Arena, and DGLD, and UGLD, with lots of volume in the METAL GOLD area, again Double Leveraged. I guess if you must play with an ETF going into a Reverse Split 4::1, you can go with NUGT which is triple leveraged.
I entered a trade today for HGD.To, and closed it an hour and a half later, for a 6% profit, feeling twitchy about leaving $$ on the table.
Next, below,you can see the CLOSE of the GDX, a benchmark for many, and you can see it decisively penetrate the Triangle drawn by the Thin Green Lines, to the downside. Lots of volume today.
Lots of volume, almost 130 Mil, not a record but plenty to represent the panic on-going in the entire sector since the great uncertainty of what may happen in rebalancing the GDX and the carnage in the Junior Golds.
Now go down the the nearest creek or lake and look at the bottom under the water. Notice that nothing fundamentally has changed since you were last here. Nothing despite the JNUG supposed fiasco. What changed for the turkey I hit driving home yesterday, is he, she or it, is dead. Thats it. The quick and the dead and the enduring. Given that the turkey had no clue it was going to die, it just took off without looking, in front of my car. You however, are different. You know to look. When you look, know what your looking at, the lake or the creek bottom. Those items are NOT going to change, whereas the level of water flowing in or over them WILL. What happens in this market is always a TIDAL change, being repeated over and over again. You job, whether you are short or long, is to decide when the tide is flooding in or ebbing out.
What does the next SIGNAL LOOK like ? It will take shape when our Private Indicative Measures entered an Overextended area from which MOVES launch, up or down. We are transitioning into such an area now.Subscribers will know when we launch our move. Subscribe and move with us.