Tuesday, March 17, 2015

Crunch time for near term JNUG bottoming call

No bottoming model is meaningful without a stop level.  This currently sits at about $15.20 for JNUG on the 10 minute chart below.  Regardless of short term moves, once this bottoms it is going to skyrocket.  The pro-dollar sentiment is extreme and the bullish sentiment on gold is at multi-decade lows.  Patience will be your friend here but once this begins moving up I think it will do so very rapidly because of the short covering that will be involved.


Anonymous said...

At $15.10... where do you see this bottoming?
Steven B.

The Captain said...

I got back in at 15.06, tight stops at $15.

This is quad witching week, expect volatility.

Twitter Delicious Facebook Digg Stumbleupon Favorites More