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

$NUGT Post-split Revisit

As The Fly used to say, “going for the $100 roll…”

Well, that is what I like to say for $NUGT as well.  After the 1 for 10 reverse split, price action continues to look bullish.

Instead of reading $9.78 on the price chart, now I’m reading $97.84.  Whoa!  It is going for $100!

I guess there is a nice sound to it.  So, I’ll have the ETF master to thank for the reverse split.

Heeeeerrrrrrreeeeeeee comes $1 0 0!

Ok, kidding asides, take a look at the daily chart below:


Today green bar is a good sign after two days of correction.  Next resistance is high of two days ago at $103.90.  I say price can take that out before the week is over.  Next target after that is $124.20.

Below is the 5m chart:


Isn’t it a beauty to see a persistent intra-day bullish trend?

Coming into the morning, I only had a small starter position, after seeing price action took off to the upside after open, I bought back in full-size looking for the $100 roll…

Good luck if you are already in $NUGT.

My 2 cents.


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