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.
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2 comments:
Cap'n,
At $15.10... where do you see this bottoming?
Steven B.
I got back in at 15.06, tight stops at $15.
This is quad witching week, expect volatility.
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