GDX / NUGT / DUST

OK, DUST, a 1-day trade for a counter trend move in NUGT is now done, I could have likely squeezed an extra percent or two out of it, but it just wasn't worth it. I accomplished what I set out to do, not only to hedge the NUGT long, but to make some extra scratch on the opportunity, that's trading.

The P/L for this 1-day position was great...

At a fill of $45.20, that's a 1-day gain of +10.3%

 As far as GDX goes (DUST and NUGT are the 3x leveraged short/long versions of GDX) it filled the gap or enough for me.

DUST didn't quite, but ETFs try to track performance on a 1-day basis in most cases, they don't always succeed, sometimes it's good for you, sometimes not.

This is DUST though losing 3C momentum, the first negative divergence is showing up and I suspect it will grow and become more powerful until DUST heads down and NUGT is a long again (maybe a day or two?)

DUST 2 min migration

GDX 1 min positive.

All that GDX/NUGT need now for a new entry is to put in the reversal process which won't be that big considering it was just a gap fill so I may be re-entering NUGT tomorrow.

Remember this tells us something about the market, GDX/NUGT trade like Gold and gold trades opposite the market right now for the most part so you can kind of get another perspective or piece of the puzzle to compliment your analysis and it's not an area many traders would look, but that's what you need to do to beat the masses, think outside the box.