Don't pay dollar to keep 2 cents when wrong. Cut your losses quickly. Trade what you see, not what you think.
Joined Oct 26, 2011
719 Blog Posts

Zen chews $NUGT for breakfast

After the morning gap on $NUGT, the wind has spoken.  After a bullish engulfment, we got an inside bar or harami.  Today, a gap up that took out the high of the inside bar is a confirmed bullish stance.  Not only that, $NUGT also took out the previous high of two days ago.  Based on these past few days of price action, I think the probability of gold finding a bottom is getting stronger and stronger.

Of course, I bought back my $NUGT despite the gap up.  Sometimes, I’ve to go with the flow.

Below is the 15 min. chart of $NUGT.  Isn’t it a beauty?


My 2 cents.

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One comment

  1. Zenhunter

    Oop! Spoke too soon on $NUGT. Nevertheless, I’m putting a GTC hard stop below yesterday low to give this one a wider berth.

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