As I said earlier, I'd close GDX before NUGT and this is because NUGT won't see profit draw down like the option GDX position.
It's not so much the GDX chart that bothered me, but the confirming NUGT chart, they are great for confirming each other.
GDX itself doesn't look that bad, but I want to capture the momentum, not wait for consolidations, NUGT is the position for that trade.
It was the NUGT intraday chart that worried me about GDX losing momentum, that's a deep intraday negative developing quickly.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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