The bad news first, I don't really like stocks or ETFs trading under 250k shares avg. a day, but with the leveraged gold ETFs, there's not much of a choice in anything leveraged with volume. I looked at the entire gold sub-industry group, but those are all miners and I'm looking more specifically for gold as there's already a miner position.
I didn't find anything with better volume that I liked better than gold, so I decided to go with the best of the bad options (volume) and since there's not much difference between UGLD (3x leveraged long GLD) and GDP (2x leveraged ETN) and BOTH ARE ETNs, I decided to go with UGLD.
The position will be about 2/3rds the size of a normal positions because of the exposure to NUGT.
The good news is that although I'm not as impressed with GDX right now compared to gold, there were quite a few miners (individual companies) in the sub-industry group and I went through all of them in all timeframes, that actually looked pretty good.
I'll have GLD charts up momentarily.
5 years ago
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