Seeking Alpha
  • Ocean Man
    $NUGT doesn't seem to care about $GLD prices this afternoon....
    6/27/13
    Reply (14)
    • IALF: Does that show mining might be nearing bottom while paper is still correcting?
      6/27/13
    • TruffelPig: I noticed this too - some gold miners were up 2-3% like GG. I think they will suffer tomorrow again.
      6/27/13
    • TruffelPig: Its not over until the fat lady sings and I haven't heard her.
      6/27/13
    • Perkins Cove: La La Lahhh...(clears throat)...Do Re Me Fa So La To Do......(.will an 'ol fart male work here? ) $NUGT and Gold do not compute......grin
      6/27/13
    • TruffelPig: 2% down AH - again...... 1186 now
      6/27/13
    • Perkins Cove: What is the connection between spot gold and $NUGT? Is it a firm link, or are futures involved?
      6/27/13
    • Perkins Cove: Do I understand correctly that miners can not make money if spot goes under 1200?
      6/27/13
    • Perkins Cove: I'm smelling an opportunity here....but don't know the wind direction.....grin
      6/27/13
    • TruffelPig: I think that can't make money argument is bogus. There is no relationship between spot gold and NUGT.
      6/27/13
    • TruffelPig: NUGT measures the performance of miners, not Gold. That is why gold went down and NUGT up today. Its possible.
      6/27/13
    • Perkins Cove: Ah Ha.....and so the conundrum. How to trade NUGT?
      6/27/13
    • TruffelPig: Its leveraged. Careful I say. Some people started accumulating it at 12 or so.......
      6/27/13
    • Perkins Cove: Yup...I started paying attention around that point. Wait...I see by my log that I bought at 14.20, only to bail at 13.12.
      6/27/13
    • Perkins Cove: This thing really has to bottom....and then start up before trading. Thanks TP for the "golden advice". Cheers.
      6/27/13