• BTD70
    Anyone consider this a buyable dip on NUGT today?
    5/29/12
    Reply (9)
    • Rubenov: I would wait for tomorrow to see if there's a bounce; "no-easing" like it happened today usually has a 2-day impact on the market and gold
      5/29/12
    • Rubenov: And obviously NUGT is highly correlated to gold.
      5/29/12
    • Lin777: It is tempting. I haven't lost enough $ on PM yet this year.
      5/29/12
    • BTD70: Thanks Rube/Lin. Just starting to look at this.
      5/29/12
    • sean.parmelee: If it made a huge amount of sense to buy at $8, it just makes a good amount of sense to buy at $11. GDX at $11 is predicting sub-$1000 gold.
      5/29/12
    • BTD70: Timing is just so critical with these 3x's, because you're bleeding as soon as you buy them (contago). Still, I think they have a place.
      5/29/12
    • sean.parmelee: It seems more likely to me that GDX will simply decline further than that the rate of increase would be so slow that ABE decay kills your
      5/29/12
    • sean.parmelee: profit. If you think the ratios need to mean-revert, it really seems like a winning trade--if!
      5/29/12
    • BTD70: Dad-gum, that WAS a buyable dip!
      6/1/12
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