The broad trading range, 52-70 seems to the main
dynamic here. Watch for the Accum. Index to
turn positive to tell us when there may be an upside
breakout and a worsening of it would warn that 50's
support may not hold.
NUGT Daily short-term chart
http://www.tigersoft.com/NUGT-charts/index.html
-----------------------------------------------------
Discontinued until NUGT appears again as a QUICK-PICK
----------------------------------------------------
3-30-2016 No crossovers of pivot-close today..
The broad trading range, 52-70 seems to the main
dynamic here. Watch for the Accum. Index to
turn positive to tell us when there may be an upside
breakout and a worsening of it would warn that 50's
support may not hold.
-----------------------------------------------------------------------
3-29-2016 NUGT ran back up towards its recent highs
and resistance on Fed Chairwoman Yellens surprisingly
Dovish comments. Perhaps, there will not even be
a rate hike in June. NUGT's Closing Power has turned
up.
========================================================
3-28-2016 NUGT continues to look vulnerable based on
negative Accum.Index and falling 5-dma. A break below
would make stock look very vulnerable. The 5-dma cannot
easily turn up.
But see Possible Bullish Inverted and H/S
------------------------------------------------------------------------------------
3-24-2016 NUGT has support at 50-52 and resistance between 68
and 70.
While another rally could occur like on Friday, the bearish facts remain: its
5-dma
is falling, its Accum. Index is negative and its Closing Power is falling.
If it is
bought for a day trade, be careful. Sell it if it drops below Friday's
close of
54.61 or on a rally back above 65.
-----------------------------------------------------------------------------------------------------------------
4-23-2016 Talk of a June rise in interest rates boosted
Dollar
and hurt Commodities, Previous Metals, Oil/Gas, Foreign ETFs,
China as well as major market ETFS, technology TECL, biotechs IBB
and Semi-Conductors. NUGT could violate its 53 support.
This
would bearishly show that the Hawks among the FOMC members
may win out.
NUGT's Closing Power and 5-dma are
falling. Bearishly NUGT could
not manage to bounce much off its lows. It would seem its is a
short at opening
for Day Traders. But cover if it turns positive or at close.
----------------------------------------------------------------------------------
4-22-2016 Hotline warned that both Gold and Silver show
bearish NNCs by Accum. Index. This is bearish for NUGT
----------------------------------------------------------------------------------
4-21-2016 Both-Up but IP21<0. 69-70 will
likely be resistance again.
Brussel's bombing will likely bring a quick test of it.
=====================================================
4-18-2016 NUGT's 5-day ma turned up today.
Both its Opening
and Closing Power are rising now. But the Accumulation
Index is
negative. The negative IP21 suggests that 70 will
continue to act as resistance.
There is little point in buying NUGT right now just below its
resistance,
except for very short-term trades. Friday's backing and
filling between
66 and 70 may well give us a sense of the intra-day trading
on Monday.
I would still use previous day's close as the key basic
point. Above
that is bullish, below that is bearish AND until there is
breakout over
70, I would only want to go long NUGT and do so when it
crosses
back above 66.32 (Friday's close.) or on a successful
test of that
level.
=================================================================
4-17-2016 Today was a profit-taking day for NUGT.
The early-crossovers
down and then back up would have produced a small-whipsaw
loss. Aggressive
traders tomorrow, use the previous day's close as the pivot
point, where above
it the stock is bullish and below the stock is bearish.
Fridays bring unusual
volatility to NUGT. So, I would continue to use its
crossovers to take positions
and close out the positions at the end of the day's trading.
Both Opening and CLosing Power are rising, but NUGT's 5-dma
seems to
have turned down. See in the second chart how wide its
trading range is.
This should permit some nice day trading profits for the next
week. The
Fed's dovishness is certainly bullish as are the longer-term
mvg.averages.
So, trading long would be my preference still..
One-Day Chart
-------------------------------------------------------------------------------------------
4-16-2016 Today the Fed kept interest rates unchanged.
As a result
NUGT crossed back above its previous day's close around 58
and
closed near 69. Continue to use crossover's above the
previous
day's close as a Buy and then sell near the CLose. One
could also
do the reverse and sell short on reversals back down from
early
strength back below the pivot-point of the previous close.
Because
the uptrend is so strong, this is riskier.
One-Day Chart
----------------------------------------------------------------------------------------
4/15/2016 No report due to lack of time.
----------------------------------------------------------------------------------------
4-14-2016 Today the 5-dma has turned down, the Closing
Power is
no longer considered "Bullish" and rising and a potential
head/shoulders
is appearing. This type of pattern appeared at previous
tops.
=============================================================
4-11-2016 The 5-dma has flattened to a +57%. It
is not a good idea
to trade this on long side, considering how far it has
advanced. Selling it
short when it crossed the previous day's close could have
been justified.
=============================================================
4-10-2016 Today NUGT opened at 60.84, up 2.84 from the
previous
day's close. Our suggestion, because it is has a BOTHUP
status, was to
buy it on a positive opening, but work with a stop sell just
below the
previous day's close. That level was never approached.
So, the Tiger|
Day Trader would have held NUGT until the close, which was
65.89.
There is a point at which the Opening is too far above the
Opening to chase.
Today, we would have made 5.05. If we think of that is
a measure of the
upside potential, then I don't think we should chase a higher
opening|
tomorrow by more than, say, 4 points. If NUGT opens up
more than 4
points, do not chase it. Wait for a pullback nearer to
the previous day's
close and then a turn upwards.
If NUGT opens Friday down from Thursday's close, Buy it only
when
it rises intra-day above Friday's close. Do this only
in the first few hours
of trading.
NUGT is now considerably above the support of its 5-day and
even
more above its 21-dma. In this situation, there is more
downside
vulnerability. And recently Friday's have brought
bigger than usual
declines. Day-trading NUGT seems safer than placing a
Buy on
weakness order. However, one could buy at the 5-dma on
a decline.
In that case, know that it could retreat all the way down to
its rising
21-dma. It is probably a lot safer just to not buy NUGT
on weakness
tomorrow, Friday.
-------------------------------------------------------------------------------------------------------------------
4-9-2016 A small gain would have been using the
approach advocated for
Tiger Day Traders. NUGT opened 3 1/2 points below the
previous day's close
(57.47). Assuming we would have bought it at 57.48, it
then rose as high as 59.7
and closed at 58.000 where small profits could have been
taken. This was enough
to turn its CLosing Power back up. It now is in BOTH UP
mode.
When the
Opening Power and Closing Power are both rising
(above their rising 21-dma), we may get a day when there is a
higher opening and then a still higher close. As a
Tiger day trader trading
in these circumstances, buying at the opening
above the
close IS riskier, but it can still pay-off. If it opens
below the previous
day, wait to BUY it when it turns positive for the day.
Sell at the CLose
unless its prices go from positive to negative.
4-8-2016 NUGT's Closing
Power is no longer considered rising, but it
also is not falling; so, I would simply Buy on crossovers
above the previous day's
Close if the Opening is weak. (As the
Opening Power is still rising, this
is unlikely.) Or Sell Short if
NUGT opens up tomorrow and falls below the
previous day's low. With the Closing Power
neutral, I would not chase
an early advance in it.
Day traders,
today we saw one of NUGT's classic moves,
a 10% plus more to downside and a close near the day's lows.
Because
of the BOTHUP status, the best thing we would probably have
done
here is simply sell any long position taken on the positive
opening
as soon as NUGT dropped below its previous close. Since
it opened
at 69.12 and the previous close was at 66.87, this might
conceivably
have amounted to a 2.26 loss (69.12 - 66.86). But there
were signs
of trouble. Gold showed a red negative Accum.
divergence on its
advance the previous day, Silver had reached its
well-tested resistance
and NUGT rose on lower volume on the previous day. So
waiting a few
minutes in case the opening was "false" would have paid off.
Selling
it short when it quickly broke below its previous day's close
could under
the circumstances been entertained, too. An especially
weak closing
is often how a BOTHUP advance by NUGT ends. If it was
sold short
as it broke below the previous day's close, covering it near
the close
would have been quite profitable. There was no reason a
day trader
would want to hold it over-night.
3-7-2016 Warnings
=====================================================
3-7-2016 Day traders,
NUGT has a BOTH UP status.
When the
Opening Power and Closing Power are both rising
(above their rising 21-dma), we are bound to get days like
today,
when there is a higher opening and then a still higher close.
As a day trader with this vehicle, buying at the opening
above the
close IS riskier, but it can still pay-off. As today. it
opened at
63.01 and went down only to 62.47 (but never below its
previous
day's closing of 60.73 and then rose nicely to 69.92 before
closing at 66.47.
The BOTH UP status can last a week or two.
Eventually,
we may buy NUGT and the stock will fall not just below
the
opening but below the previous day's close. At that
point
we will have to quickly sell at a loss then OR buy
DUST.
-----------------------------------------------------------------------------------------------
3-4-2016 Day traders,
we saw a Reversal Day. Usually, we place closing
Sell Stops just beneath the close of the reversal day.
But with so much momentum,
I would NOT sell short. Instead,
look for a failure of a strong new uptrend-Reversal
Day to bring a follow-though decline. That should be taken as a Buy.
Usually the type of reversal days we saw Friday
do bring declines. But commodities, Gold
and foreign ETFs are the leaders now. On this basis,
they should all go up next week. And in
recoveries after long declines, price reversals are
often fake-outs. In fact, that is how we can tell that
prices will go higher: the reversal days in a new bull
market don't bring reverses. See how the last two
reversal days did not bring further declines. Instead,
prices rose. So, a move early in the day back above
the close, should be used as a Buy. A failure of the
Reversal Day to bring a follow-though decline should
be taken as a Buy.
3-3-2016 Day traders,
when both Opening and Closing Power are rising
we expect steep vertical advances. At the end of
the move, it is the Closing
Power which ordinarily drops first. The opposite it true when
we have a
"BOTH-DOWN" situation.
----------------------------------------------------------------------------------------------------
3-2-2016 Day traders,
when NUGT's Closing Power is rising, we
usually
do well buying near the openings and selling at the close.
Here that would
have meant buying just above the previous day's close on a
successful
early test of that and selling at the close.
(Day traders,
when the Closing Power is falling, we have
to expect weakness after the
opening. So, either selling short when prices drop below the
previous day's
close or selling short on an early failed rally back up to the
previous day's
close should consistently work. Of course, if the 5-dma trend
is very strong or
very weak and confirmed by Closing Power and the Accumulation
Index,
it is usually best just to hold the positions overnight.)
------------------------------------------------------------------------------------------------------------------
3-1-2016 Day traders, if NUGT opens
considerably lower and then turns positive by moving
above its previous day's close, it should be bought and then sold
at the close.
Vice verse, day traders should consider selling it short (or going
long DUST)
when NUGT opens a good deal higher and then drops into negative
territory,
In the latter case, day traders will want to close it out at the
end of the day.
This does not produce a trade every day, but it has been
consistently profitable.
2/12/2016 Gain = +4.20/52.57 long
2/18/2016 Gain = +8.40/46.32 long
2/22/2016 Gain = +1.15/45.56 long
2/25/2016 Gain = +2.62/56.20 long
3/1/2016 Gain = +6.85/59.03 short
NUGT has broke its price-uptrend, but the
steeply rising 21-day ma
at 46.8 should act as support.
2-29-2016
6-26-2016
Price, Relative Strength,
Closing Power, Opening Power
Accumulation
Daily Volume
-------------------------------------------------------------------------------
6-23-2016
Price, Relative Strength,
Closing Power, Opening Power
Accumulation
Daily Volume
