Thursday, February 4, 2016

[NUGT] update

NUGT is hard up against resistance.   I think that there is a good chance that it will break out of that rail and I am waiting for that breakout before I get back in having bailed out with a 19.5% gain in the shares as documented in this post.  A gap up above the rail tomorrow would be good evidence that the move has more to run before a significant pullback is seen.  Below is the chart in non-log scale.

Below is the chart in log scale which shows the likely next resistance point should tomorrow bring a new high to NUGT. If the model below plays out then today's peak was likely the peak of 3 of 3.

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