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$Direxion Daily Gold Miners Index Bull 2X Shares (NUGT.US)$ ...

$Direxion Daily Gold Miners Index Bull 2X Shares (NUGT.US)$ if we touch 48 anything you need to take a position and if it drifts a little lower add to it 47 46. gold's been getting hammered and it's absurd it's down $57 today the last time I looked.. if Apple misses will probably have a down day tomorrow I know there shouldn't be any correlation but why would gold be down today if it's not for the tech stocks. so anywhere is 46,47, 48 it's a buy.
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  • Fat ginger cat : run or hold? my cost is at 43

  • 10baggerbamm OP Fat ginger cat : they're killing gold every institution is selling it right now because it's considered to be risk off that Trump is going to unite the world. gold will come back I don't know when I mean that's the biggest problem is money is leaving gold it's buying Bitcoin it's buying Tesla you buy gold when you're uncertain about the future and if Trump chips away 2 trillion dollars in waste with Elon Musk there's less of a need to hold gold as a hedge

  • Fat ginger cat 10baggerbamm OP : okay ty man

  • 10baggerbamm OP Fat ginger cat : I don't know how many shares you have you could sell a call against it if you have at least a hundred or 200 around lot I mean gold's not going to go down forever and you've got brick countries Brazilian Russia India China that are forming a new currency and it's backed by 40% gold so their buyers of gold what's happening today is just like a technical blowout right now it's completely irrational and the mining companies which is what this is peg to obviously if gold goes down they make less profits when the commodity they sell is at a lower price for the same reason it went up is the reason it's going down because the base metal right now is down from its peak.

  • Fat ginger cat 10baggerbamm OP : have 400 shares thanks alot

  • 10baggerbamm OP Fat ginger cat : you've got a Friday expiration if you sell a 41 and a half right now you're going to make about 1.5 a contract.  that brings you pretty much back to your purchase price rather than taking a loss I mean the risk is obviously gold gets hit tonight but at some point time gold is going to reverse it's not going away and there's people that don't believe in Bitcoin and governments right now around the world China in particular they are buyers of gold the middle Easter buyers of gold India is buyers of gold so we will have a reversal it could be up $25 tomorrow and then you'll get a gap up on these stocks so it's your call but I hate taking losses and sometimes they get much worse and retrospect you do kick yourself but you'd have four days you'd make a buck 50 if it just stays here at a buck and a half next week you sell another call and make another Buck 50 and you just keep selling calls against the position at some point you're going to be at a profitable trade

37+ yrs in the trenches, raised 100mil for start ups, syndicate ipo's, yrs on trading desk mkt maker. R/Everythingstocks
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