I am still holding NUGT inside 12631, since Tuesday. Given that nugget is a very levered and even, admittedly, flawed instrument, I am keying off the gold miners’ straight-up ETF, GDX.
An update for my thesis of being long the gold miners can be seen below on the weekly timeframe.
It is going to be a tough trade to manage given the wild swings I expect. If I am wrong, I am confident I can manage risk well and cut it quickly. If I am right and this double-bottom proves true, the hardest part will be effectively trading around it.
What are you trading this afternoon?
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I want to punch that grin right off his log-cabin Republican face.
He’s ready for you http://forbestadvice.com/Fanclubs/TrishRegan/Trish_Regan_With_AmandaDrury_and_LarryKudlow_1.jpg
hahahahah you owe me a new keyboard, theres coffee everywhere hahahah
LoL
Kudlow str8 pimpin’ in that photo!!
Don Fanucci style.
He’s not that obnoxious coke snorting Reaganite anymore, he’s a sober,mellow born again Christian!
LoL And he did a mea culpa about Bernanke, too. I believe.
I can’t tell which is worse…
Fwiw, read on Kid Dynamite today that 20K gold comex contracts were sold last friday am, and 20K contracts were bot this morning.
Thanks. Interesting times for the metals & miners.
Knew him at Bear Stearns, harmless. Actually a pretty good guy. More entertaining than right on his economic calls.
I could see that, for sure.
Looks like $GDX was faded today back into a descending wedge dating back to late August.
Yes, still a sloppy chart. Took half off NUGT Inside 12631 earlier.
A great day for this trade overall, in any event. Thanks for making us aware.
Cheers