The 3x leveraged ETF’s have just not performed during this last waterfall in USD so I’m booking out of NUGT here at 9.86
The way things are setting up we will get another fantastic buying opportunity once The U.S Dollar gets its inevitable bounce out-of-the-way here in the next few days. Once USD puts in a daily cycle low….we can really only expect about 6-8 days UP before she rolls over for another devastating leg down.
I am sitting 100% cash as of this moment. Not a single penny on the table.
Can you imagine how good that feels?
The reason NUGT has not performed can be found here:http://www.tff-onlinetrading.com/market-analysis/2014/08/01/leveraged-etfs/
Whilst the article was written a few years ago, the maths remain the same
Fantastic article and explanation Karim! Fantastic!
You need to hit these things with absolute precision timing, and can’t hold on if price moves against you.
This article is a MUST READ for all here as once again….there is just no easy money. It all takes hard work and serious commitment.
Thanks again for the article Karim. Excellent work.
Thanks karim that was a good read that, surprised i anit stumbled across it before..
I very rarely trade etfs if im honest
I dont normally trade’em either and the article makes a strong case for NOT.
Awesome stuff. Thanks again Karim.
Many thanks for your kind words guys.