Seeking Alpha
  • Robert Edwards
    There is hope $NUGT traders! Click http://seekingalpha.com/p/1gnuv Also hope for $GDX, $GLD, $NEM, but not $DUST
    12/3/13
    Reply (225)
    • Perkins Cove: http://seekingalpha.com/n/uwh7
      12/3/13
    • Robert Edwards: The bearish forecasts always predominate when you have a hard down day. It is expected and is a sign of a bottom and not more bearishness.
      12/3/13
    • Robert Edwards: At the June low of $1180, they were calling for a move to $900 or $800, right before we had a $246 short covering rally to $1427.
      12/3/13
    • shopvac20: what was NUGT at during the 1180 low ? why is it so much lower right now while we are still around 1220?
      12/3/13
    • Perkins Cove: Contango.
      12/3/13
    • Robert Edwards: Shopvac: NUGT has 10% monthly slippage. $45.50 on NUGT back in late June when gold bottomed $1180. GDX also underperforming gold recently
      12/3/13
    • Robert Edwards: When gold bottoms, GDX should outperform and go up double. So $100 gold rally (8%) should get 16% GDX rally & 48% NUGT rally to $41 area
      12/3/13
    • Robtk1964: Didn't the June low coincide with Syria Gasing citizens?
      12/3/13
    • Robert Edwards: Spent virtually entire night and morning above $1220 in Feb. gold but as the opening approaches, weakness returns. Selling relentless.
      12/3/13
    • davePx: We are seeing the law of diminishing returns at it finest....
      12/3/13
    • Robert Edwards: Predicted 75 cents to $1.50 new low, well today's low was down $1.52 from the old low. Hopefully that was the bottom.
      12/3/13
    • ptTL9: RE, i read your article, i think NUGT will run to 50days sma as it did in Sep and Oct. Now it's at $44, my cost is at 36, hope to break even
      12/3/13
    • davePx: Ironic after living with this etf day in day out this year that we could get caught like this...
      12/3/13
    • davePx: Obviously we do not sit at the table with the big boys!
      12/3/13
    • davePx: ptTL9 remember we have the volatility on our side to multiply that gain ...we just need and upward trend here...
      12/3/13
    • Perkins Cove: Given contango, it is dangerous to play $NUGT until gold bottoms for sure. (I learned my lesson playing $UVXY). @RE, still holding?
      12/3/13
    • Perkins Cove: And will you average down?
      12/3/13
    • shopvac20: I am kicking my self too, I try to wait for the swings to get closer to the bottom top before getting in, not the middle, in deep now.
      12/3/13
    • shopvac20: It is painful watching this day after day, but the second i flip the rally will start .. :(
      12/3/13
    • ptTL9: dave, i could not agree more, we should know better
      12/3/13
    • ptTL9: at this point i look at it as a missed run
      12/3/13
    • ptTL9: another thought: in June, we went 55% down under 101 (50sma), in October 42% from 65sma to 38, we are now at 44% again
      12/3/13
    • davePx: Way to optimistic, I have not matured in this game enough to realize you can not fight the trend and to see it subjectively.
      12/3/13
    • ptTL9: also, gdx should lead gold for rally will happen
      12/3/13
    • ptTL9: shop, i flipped yesterday, made some money, but no rally. LOL
      12/3/13
    • davePx: Well when a rally comes I will be trading and fighting my way out of this that's for sure!,,,
      12/3/13
    • davePx: If I'm not broke first...
      12/3/13
    • Perkins Cove: dave, stick around. You'll learn. Happy gambling...er...trading. (grin)
      12/3/13
    • Perkins Cove: http://bit.ly/12dD9F7
      12/3/13
    • shopvac20: pt ... would have been even with a flip after Friday ... i am still in for the punishment :/
      12/3/13
    • shopvac20: also w gold back to 1220 (for the moment) why oh why is nugt still 3+% down :(
      12/3/13
    • Robert Edwards: Been monitoring Buying on Weakness Today. GLD is a very impressive #23 at 10:32 a.m. Nem # 20, GOLD # 97, RGLD # 38
      12/3/13
    • ptTL9: shop, we need NEM to get on board
      12/3/13
    • Robert Edwards: I am holding firm in NUGT. Could have sold on strength again today and bot back on weakness to day trade a lower price, but nothing so far
      12/3/13
    • ptTL9: now, when GS got its wish may be we will run
      12/3/13
    • ptTL9: did not they say 1200? not 1180
      12/3/13
    • Robert Edwards: I am looking for a $100 pop in gold off support of 1215, 1209, 1200, somewhere down here, that should cure most of the bulls ills.
      12/3/13
    • glaserdx: sold 1/3 NUGT shares and will wait to buyback when I feel bottom is in
      12/3/13
    • Robert Edwards: Regarding gambling, I am not gambling, not even in the NUGT trade. I am taking a measured risk with high probability of payoff. My chances
      12/3/13
    • Perkins Cove: RE, thank you for your honesty and openness. Am new to gold and that's why I follow you. Cheers.
      12/3/13
    • davePx: I wanted to trade on that pop this morning too! But am holding, optimism to still killing me.
      12/3/13
    • Robert Edwards: My probabilities for a rally only increase, not decrease, the lower GDX falls. If not already long, would b buying heavily now so I hold.
      12/3/13
    • Robert Edwards: Gambling is shorting gold and GDX into the biggest oversold hole that has been seen in generations. I am not short so I will b fine.
      12/3/13
    • Perkins Cove: I will say... I have seen blinders on people following the VIX derivatives. I trust RE will not let that happen to gold stock/etf traders.
      12/3/13
    • Perkins Cove: Contango is a bitch....
      12/3/13
    • ptTL9: RE, lets first get through 1250, lol
      12/3/13
    • Robert Edwards: If u have fear of falling to lower prices, u definitely cannot be successful trading GDX, GLD, gold futures or NUGT. U will b tested over &
      12/3/13
    • Robert Edwards: over. We may ultimately trade lower in gold, but many $100 or greater rallies are in gold's future and should start at any moment.
      12/3/13
    • davePx: Is that my future?
      12/3/13
    • glaserdx: Perkins- Robert is perhaps the most insightful gold trader I know - he is absolutely honest and puts his money where his mouth is.
      12/3/13
    • Robert Edwards: When gold bottomed in June, it had to stop in midair. Now we have the 1200 level and 1180 level as support. Easier to b long now than in
      12/3/13
    • Robert Edwards: June. June low had a $246 rally, our next rally could b back to $1500. If we don't take out the June low, the bottom is already in!
      12/3/13
    • davePx: Second that! With thanks!
      12/3/13
    • Robert Edwards: I have total confidence in GDX & NEM and the miners coming back. NUGT is much trickier as there is 10% monthly slippage. The jury is still
      12/3/13
    • Perkins Cove: glaserdx, I agree. That's why I have started to follow him. (I limit my "follows" to only 20) My comments are not anti RE....(cont)
      12/3/13
    • Robert Edwards: out regarding NUGT. I may ultimately decide NUGT is not tradable. However, it is too soon to make that determination. I do know I can't
      12/3/13
    • Robert Edwards: Can't get even on my NUGT trade, selling out at new lows, unless I am assured I can buy back lower. Right now, I see nothing to scare me out
      12/3/13
    • Perkins Cove: (cont)...only alerts as to the dangers of contango. And I see RE has a healthy respect for that. Gold will bottom, we just don't know when.
      12/3/13
    • Robert Edwards: We bottomed last week at 21.52 for several days. Important that we stop today at 20.50 or higher and so far 20.59 held the bottom in GDX
      12/3/13
    • Robert Edwards: If 20.00 is to b major support in GDX, have to start putting the breaks on at 20.50 which we have so far Still need 2 get GDX trading green
      12/3/13
    • Robert Edwards: Gold is in the positive right now, no reason for GDX to continue to underperform even on the rallies.
      12/3/13
    • Growfast: Sold my put hedge for a profit as I think we are getting closer to rally. Hard for sellers to be left. Downside risk more limited.
      12/3/13
    • Growfast: Substantially long NUGT, NEM and a few options.
      12/3/13
    • Perkins Cove: Gold @ 1222.... http://cnb.cx/12rB60W
      12/3/13
    • Perkins Cove: ...for a 10 dsma of 1247, and dropping. Am I looking at the right number?
      12/3/13
    • shopvac20: I am holding steady with RE and Dave and the rest of the injured but still standing bulls ...
      12/3/13
    • Perkins Cove: Man, RE sure gets some loooong threads. Shows support among the fans. Any chance I could get some of you root for The Packers? We need help!
      12/3/13
    • shopvac20: LOL Stong life long Broncos fan here! This thread is nothing, triple digits is normal for RE threads.
      12/3/13
    • Robert Edwards: Adding on weakness 11:32 a.m., GDX showed up as #66, NEM # 52
      12/3/13
    • Perkins Cove: Go Peyton...!
      12/3/13
    • shopvac20: gold 1223 ... would like to see minors start to follow it up and get greeeeen
      12/3/13
    • justin.zhou10: Ok, bot nugt@26. It should not go much down today. Gold is stable.
      12/3/13
    • glaserdx: looks like a good price Justin
      12/3/13
    • justin.zhou10: It could be 2-2.5% sway both ways from 26. I will take my chances.
      12/3/13
    • MikeNeedsHelp: RE: Just curious. What's the reason for the 10% monthly slippage in NUGT & DUST? Also, hanging in there, heavily wounded but still breathing
      12/3/13
    • davePx: Why investors are not getting nervous about stocks and hedging with gold right now I can't explain...
      12/3/13
    • Growfast: Dave, I think it is the comments you see. Buyers afraid to come in on the falling knife. But, once some bigger players do come in, the rush
      12/3/13
    • Growfast: will be on. If not today, I think we may see the action tomorrow or Friday at latest. Also, hesitation on investors waiting for data Thu/Fri
      12/3/13
    • Perkins Cove: MikeNeedsHelp...you asked the right question. I will let RE respond as this is his thread and I respect that. Cheers.
      12/3/13
    • davePx: Data or not I would be getting nervous....just as analysis to are knocking gold I see allot more analysis's that is portraying toping stks.
      12/3/13
    • davePx: Appreciate your thoughts Growfast...we will be at the mercy of "the data"
      12/3/13
    • glaserdx: MikeNeeds Help. This is one of Robert's reports on slippage http://seekingalpha.com/p/1bnfc
      12/3/13
    • shopvac20: which reports do we have coming out thurs. and fri. ? we all saw what they did with the employment # last year.. whats to saw all these ..
      12/3/13
    • shopvac20: reports we are seeing are just some fact and some fiction? how is inflation so low, when the price of everyday stuff is going up?
      12/3/13
    • davePx: Might see an upside to the end of the day here...looking perky
      12/3/13
    • Perkins Cove: Mike...excellent article! Right on! What Robert calls "slippage", most traders call "Contango" (I realize contango is only a part of it).
      12/3/13
    • Perkins Cove: And others call it simply "decay". Whatever. If you watch leveraged ETFs long enough you will see it for yourself.
      12/3/13
    • Growfast: Here is the economic calendar schedule for this week: http://mam.econoday.com. We have ADP Payroll, Home Sales, FED Speakers, Job Cuts etc
      12/3/13
    • Perkins Cove: I have physically charted $UVXY over the years....and "decay, slippage, contango" is very clear. Kudos to Robert for that article.
      12/3/13
    • Perkins Cove: Hope that helps Mike. (my son's name is Mike.....grin)
      12/3/13
    • rodh7858: Slippage & decay are synonymous. Contango is a completely different term and is used in Futures mkt. Go Pack go - Packer fan in Chicagoland.
      12/3/13
    • Robert Edwards: You would think we would get an accidental rally just for no good reason except the red chip has come up too many times & time for black
      12/3/13
    • rodh7858: Contango is when spot is below futures price of a commodity/index. Opposite is backwardation when spot is above futures price.
      12/3/13
    • Growfast: You would think. I do think we are close (24 to 72 hours). For a short squeeze bounce, look at the TSLA 3 month chart and it's rally today.
      12/3/13
    • Robert Edwards: Feb. gold is 1221.90 or $4.50 below the low of last week (0.37%). GDX is 90 cents below the low of last week (3.95%) More Underperformance
      12/3/13
    • Robert Edwards: Correction, GDX is 83 cents below last week's low, or 3.86% lower, vs. 0.37% in gold.
      12/3/13
    • Perkins Cove: Durn...just when I figure I have Contango figured out....I may not have.... http://seekingalpha.com/a/13yf3
      12/3/13
    • Perkins Cove: That's it.....I'm just gonna call it "decay" from now on......grin
      12/3/13
    • Growfast: Data on top for tomorrow - http://on.mktw.net/18klSbi
      12/3/13
    • shopvac20: gold in the green ... nugt 5% down .. just another beaten!
      12/3/13
    • Perkins Cove: You know...this raises the question.....why ever let a position go red?
      12/3/13
    • Perkins Cove: We all have a choice.....
      12/3/13
    • Robert Edwards: At 3:33 p.m., NEM # 100, SLV #99, GDX #84 buying on weakness. 3:47 only GDX makes list at #75. They really tried to kill GDX on close.
      12/3/13
    • justin.zhou10: Added more @25.5. Will see how it goes.
      12/3/13
    • shopvac20: RE, what are your thoughts going into the second half of the week ?
      12/3/13
    • Robert Edwards: After close, GDX was #88 Buying on weakness and only gold entity to stay on the list by the end of the day. Will study this thing hard.
      12/3/13
    • justin.zhou10: If gold is stable, gdx has potential to bounce back quickly. ADP and labor number will tell us all. Short needs to cover.
      12/3/13
    • justin.zhou10: And all will lead to the final call, Fed 17-18 taper decision. Are they going to do it? Probably not. Then rally will come.
      12/3/13
    • justin.zhou10: Entering position here could have another 10% down, but if guess right, it will be a 50% bounce.
      12/3/13
    • njtoms: Why is not DUST Decaying? DUST was 26 a few weeks ago and now it's in the 50's?
      12/3/13
    • Perkins Cove: $DUST is the bear (inverse) ETF, so as gold drops, DUST rises. The decay is only 10% per month as RE says....but is overshadowed by the gain
      12/3/13
    • Perkins Cove: See here, but watch the splits..... http://yhoo.it/IFktpj
      12/3/13
    • Perkins Cove: Bottom line, watch Gold.... http://cnb.cx/12rB60W
      12/3/13
    • Perkins Cove: Everyone is responsible for clicking their own buy/sell button. Use other traders only as a guide.
      12/3/13
    • Perkins Cove: Robert...I wouldn't be following you if I didn't think you had integrity. Give us your best shot....then we'll take it from there.
      12/3/13
    • Perkins Cove: Gold will go up...or it will go down. But we'll still be here. You have been a big help to this gold bug wannabe. Thank you !
      12/3/13
    • Perkins Cove: Ok...gold 10 dsma is now @ 1242 and dropping.....
      12/3/13
    • Robert Edwards: Here is a great article worth reading on current technical if you have not seen it: http://seekingalpha.com/a/1455l
      12/3/13
    • njtoms: R.E., a Question? with the macd/rsi pushing 3 standard deviations below gdx's B. Bands; how on Earth can GDX Not be Rallying? Thx/R.E.
      12/3/13
    • njtoms: Yet, another "Fast $$" Hatchet Job. Labeled "Miners Meltdown." Guy Adami "Avoid the Miners." Options play'n for NEM Dec 24 Calls. Jst Bounce
      12/3/13
    • justin.zhou10: Get out this morning. ADP data is bad. Gold hanging there.
      12/4/13
    • njtoms: justin, you just bought yesterday and your now telling people to "get out this morning"? why?
      12/4/13
    • shopvac20: RE, any thoughts on this mornings activities ?
      12/4/13
    • davePx: Looks like dust is at the top of the channel ...nugt at the bottom, unless some kind of breakout occurs gold should recover
      12/4/13
    • davePx: Short covering may acct for a bounce but the trend may be going to the bullish side
      12/4/13
    • Growfast: davePx - I think you are right. I like that Gold/NUGT/NEM/GDX are higher regardless of heightening taper concerns. I think we are beginning
      12/4/13
    • njtoms: NUGT Up almost a Buck at 8:20cst. 26.20.
      12/4/13
    • Growfast: to see the rebound. Trend should reverse where DUST should head down and NUGT should begin to trend upwards.
      12/4/13
    • Robert Edwards: Gold got above $1225 resistance today. If we close above that today at 1:30 NY time, it is the first step of a bottoming process.
      12/4/13
    • Robert Edwards: Gold was slammed with big orders in premarket making new lows for this move, but so far, lower prices were rejected. Positive first step.
      12/4/13
    • davePx: Really looking for this to take hold...usually nugt gets this morning bounce and then dwindles into oblivion if this is a real rally it
      12/4/13
    • davePx: Will pause down and then go steadily up in bits and bits....have not seen this for quit some time
      12/4/13
    • Robert Edwards: Will be hard to get a lasting bottom till after Friday's jobs report. If we move strongly higher on Friday, then the bottom is in.
      12/4/13
    • Robert Edwards: Once we bottom, GDX/NUGT should move up strongly over the next 2 weeks with gold rallying $100 or more hopefully.
      12/4/13
    • Robert Edwards: Peter Hug (Kitco) sees support in gold and silver in here and does not believe there will b a Dec taper and if no taper, gold could pop big
      12/4/13
    • Robert Edwards: Decided that I am going to start to take defensive measures each day so on the highs, sold many NEM shares that I am buying back on weakness
      12/4/13
    • shopvac20: Robert, dave, grow and other remaining bulls... I am ready for a rally, just tossing that out there.
      12/4/13
    • Robert Edwards: Sold NEM 23.82, bot back 23.37. Sold 300 NUGT above 27, bot back under 26. Back to daytrading to lower average breakeven price
      12/4/13
    • justin.zhou10: Ok, I am out with a small profit. Did not feel good about ADP, will wait for Friday labor number.
      12/4/13
    • justin.zhou10: Housing and Service number stop gold's uptrend. This is tough, gold's is so oversold. If ADP missed, it should have a terrific rally.
      12/4/13
    • Robert Edwards: GDX made new low by $1.64, replacing 22.21 with 20.57. Should bottom above 20 and hopefully 20.50 or 20.57. Time for GDX to man up.
      12/4/13
    • Robert Edwards: NUGT stays above 20 and no problem bouncing back to above 40. If NUGT takes out 20 support then gets increasingly harder to recover to 40
      12/4/13
    • Robert Edwards: If gold holds 1180 support, NUGT should hold above 20 and should b fine. If gold rolls over & NUGT trades in teens, need to liquidate
      12/4/13
    • Robert Edwards: these r the rules I am setting up for my own account. I have 1350 NUGT and don't want to see NUGT trade under 20.
      12/4/13
    • Robert Edwards: GDX should not follow 2008 and trade below 20. That was a hard down move from mid 30s to mid teens in 5 weeks, then back above 30 quickly.
      12/4/13
    • Robert Edwards: GDX has not been in a slow and painful 2 year bear market and much harder to slam down to bottom after all the carnage already seen.
      12/4/13
    • Robert Edwards: GDX has now been in a slow and painful 2 year bear market and much harder to slam down to bottom after all the carnage already seen.
      12/4/13
    • shopvac20: I dont like that bearish talk :( ... still hanging on for a rally
      12/4/13
    • davePx: This bottoming process is really drawn out this time, making me increasingly uneasy.
      12/4/13
    • davePx: Missed a great trade this morning...I have been lulled into waiting for a rally and forgot how to make money...
      12/4/13
    • davePx: Makes me wonder who or what entities are actually trading out there with so much control over the killing any potential rally
      12/4/13
    • davePx: Maybe only speculators are left out there
      12/4/13
    • davePx: Robert if we see shot covering this week what do you thing might be the extent of it and expected result?
      12/4/13
    • davePx: Sorry short covering...
      12/4/13
    • davePx: I have been watching the russel2000 and as it drops gold consistently gains...
      12/4/13
    • rodh7858: JPM is now net long gold by ~70K contracts. Change from banks' short actions earlier. I read this on one stock board. Anybody confirm this?
      12/4/13
    • davePx: As stressed earlier people need a place to hedge if stocks pull back...we may see this shift
      12/4/13
    • davePx: NUGT has gone to sleep!!
      12/4/13
    • davePx: OK maybe waking up ....slow to react
      12/4/13
    • shopvac20: its awake again .. gold over 1230
      12/4/13
    • davePx: I'd expect NUGT to be bouncing more ......?
      12/4/13
    • davePx: NUGT acting like a wounded animal ....this sucks!
      12/4/13
    • davePx: Should be in the 30's
      12/4/13
    • Growfast: It is a wounded animal, but if we break above 1,500 on Gold, and shorts get the squeeze confirmed, the momentum should shift.
      12/4/13
    • davePx: Not sure what we are really seeing here....feel like I should take some profit but....?
      12/4/13
    • davePx: NUGT super disappointing here!
      12/4/13
    • rodh7858: I am holding my NUGT (from $27.01) and am long $AUQ and short Jan GDX 22 puts. Can anybody confirm the JPM long I posted few msgs above?
      12/4/13
    • glaserdx: rodh - your NUGT purchase looks really good here and hope you are right on the 22 GDX puts! Sorry but I can't cnfirm the JPM long gold
      12/4/13
    • davePx: Odds on punching through 1250 today??
      12/4/13
    • Growfast: So far, I am pleased. Gold is holding strong just under and keeps pushing against the resistance at 1500. With this strength, I think
      12/4/13
    • Growfast: the probability is high we push through. Then we may run and pull back to that resistance from the upside. I will be quite pleased if we
      12/4/13
    • Growfast: hold above 1350 at the close.
      12/4/13
    • davePx: 1250 ...or 1350
      12/4/13
    • Growfast: I meant 1250 - but would not complain if we rise above 1350 :-)
      12/4/13
    • justin.zhou10: God, I paid a super expensive grocery shopping trip.
      12/4/13
    • njtoms: R.E. Hope Your Finally Right! It's been A While. Like they say a "Broken Clock is Right. Twice a Day." Shall We See?
      12/4/13
    • Growfast: And, I did mean pushing against resistance at 1250 as well. Not sure what my fingers were thinking... Just need one good push by the bulls
      12/4/13
    • newbie872: Sadly, NUGT holding support like wet tissue hold cannon ball. Trying to ride DUST from 50.75 and see where it goes, may add on dips.
      12/4/13
    • justin.zhou10: NUGT has no strength, people still do not believe the gold rally. This is odd.
      12/4/13
    • Robert Edwards: Just got back from lunch. nice to see upper 1240s gold. 1250s late today would b great. 1260 is the key resistance to close above 4 bottom
      12/4/13
    • Robert Edwards: Sentiment is slowly changing. In addition to JPMorgan, u can bet GS will b getting long soon and then come out with bullish predictions.
      12/4/13
    • Growfast: Woo hoo... Punched through 1250...
      12/4/13
    • Robert Edwards: Grow, I often say and type the first part of numbers wrong as my computer brain does computing on the end of number. 1st part a placeholder
      12/4/13
    • davePx: Ooooooo that was painful 1250 then big slam down
      12/4/13
    • davePx: Robert what do you think are the circumstantial drivers here?
      12/4/13
    • Robert Edwards: NEM back below 23.80, underperforming a bit today. rumor that NEM will come out with stock offer dilution like ABX has been hurting stock
      12/4/13
    • Robert Edwards: illiquid market conditions around year-end, in addition to the uncertainty over the holiday shopping season & risk of another budget
      12/4/13
    • metalhead: Here is some bullish contrarian psychology - gold's move today being called a mere "short covering rally" by the geniuses at market watch
      12/4/13
    • metalhead: bodes well, note also GDX outperforming GLD, haven't seen this in a while
      12/4/13
    • Robert Edwards: howdown in January, means no dec. taper. Not happening. Also late November thanksgivings often skew numbers down on Friday employment report
      12/4/13
    • Growfast: Lots of concern about the Miners in general if Gold hits or goes below their cost of production around 1200. Valid concerns if it does.
      12/4/13
    • Growfast: Best counter to that is for Gold to rally breaking higher than expected and all shorts have to cover. Gold price needs to keep moving up...
      12/4/13
    • Growfast: Good thing about todays rally versus last Fridays up day, is that we have volume over 9MM on NUGT vs <4 MM last Friday on short trading day
      12/4/13
    • davePx: Grow, Following this line of thinking where is the sweet spot in short covering ...Friday morning or ... What do you thing
      12/4/13
    • Growfast: I think we have to be careful where we are if Gold price starts to break down. If we push up past 1250 and hold or 1260 as RE said is the
      12/4/13
    • Growfast: real mark, then I think some of those who are playing for 1180 are going to start bailing. We likely got a few of the shorts today, but
      12/4/13
    • Growfast: more run today and tomorrow needed to make them know this is real. If we hold up on Gold price, I think tomorrow and Fri we could rally more
      12/4/13
    • Growfast: I think RE is correct. Taper isn't going to happen in Dec. FED msg tomorrow may support that. Data has been strong, but we're not there yet.
      12/4/13
    • davePx: Thanks ...good summary
      12/4/13
    • shopvac20: if the FED comes out and says .. yes we are going to start the taper ... what does that do to gold? I know a few months .......
      12/4/13
    • shopvac20: ago we had the 30% afternoon rally, then a 3 week drop
      12/4/13
    • shopvac20: I am reading lots of talk of taper.
      12/4/13
    • Growfast: FED msg yesterday was "we won't taper until the economy is right". They want markets to price for it so it isn't a major shock to systems
      12/4/13
    • Growfast: I think they are succeeding in this. But, interest rates and treasury rates keep rising and that is a problem. When taper is announced, I
      12/4/13
    • Growfast: would expect a short-term down move in Gold, followed by bullishness. As the data looks better, thoughts of >inflation support Gold
      12/4/13
    • Growfast: RE had similar thoughts that Gold would turn bullish after taper.
      12/4/13
    • Growfast: Could be wrong. Regardless, there is some near-term risk still in Gold, but long-term, say 1 year+, even if Gold gets hammered, miners would
      12/4/13
    • Growfast: cut production and eventually pricing would have to move up to support demand.
      12/4/13
    • njtoms: According to Market Currents: GDX is "the best performing sector in the Market Today. Up 3.7%."
      12/4/13
    • davePx: What do you figure ....EOD rally or sell off?
      12/4/13
    • davePx: Decided to look for pop in the morning
      12/4/13
    • Growfast: Answer appeared to be both. we rallied and sold on Gold, but overall, I'm happy with the strength through EOD in Gold, NUGT and NEM.
      12/4/13
    • shopvac20: I would like to see the asian market show some interest in gold and keep it strong through the night...
      12/4/13
    • rodh7858: Rob: Wud luv to hear ur views on today's reversal in GOLD/NUGT. Was it a head fake bounce or is there some news that helped?
      12/4/13
    • njtoms: 3 Month Average Daily NUGT Volume: 5.1M. Today's NUGT Volume: 10.3M. Look at the DUST Chart. Rolling over Like Last 3 Peaks this Year.
      12/4/13
    • justin.zhou10: Seems like no-taper people boosted gold today in face of strong ADP, housing data. If no taper, gold probably will stay above 1200.
      12/4/13
    • justin.zhou10: However gdx performed so so, especially nugt was around 33 when gold at 1250 last week. So people are not convinced, especially ADP implies
      12/4/13
    • justin.zhou10: strong labor data Fri. So it is a puzzle for both sides, gold needs further upside for whatever the reason, oversold, momentum, etc.
      12/4/13
    • justin.zhou10: But until then miners could still be soft. Anyway, missed the gold bounce while out shopping. That is an expansive lesson.
      12/4/13
    • bobzic: $NUGT : A bull bot 74 000 shares of $ABX @ 5.41 pm today : $1.1 million.
      12/4/13
    • Normmax: bobzic, where did you find this information?
      12/4/13
    • bobzic: $NUGT: Normmax : on Nasdaq.com
      12/4/13
    • Robert Edwards: New article and new thread, click http://seekingalpha.com/p/1guzt
      12/5/13
    • Perkins Cove: Thank you.
      12/5/13
    • newbie872: Starting to look like a two month 'echo' - Aug 7 = Oct 15, then ~ Oct 15 = Dec 10? so ...down tomorrow then up a bit more?
      12/10/13