[NUGT] update

At the backlink I had bailed on NUGT because I counted that it had hit 3 of 3 and it was hard up against resistance.  Thus the next move should be a significant sell off into 4 of 3 followed by a final move up into wave 3.

Today the shares moved down quickly from the open but then did an intraday reversal and closed at a much higher high (up 15% which I caught a good deal of while avoiding the downside AM risk).  I again sold into today's close because I counted that blue 3 was completely and that we should get a sharp vee based sell off on Monday into blue 4.

Please not the following:
- the resistance I noted in the backlink has been destroyed by this move.  When you see a wave move right up to resistance all face to face like, and then take a big step back and then reverse back upward to smash through then you know the bull is loose.
-The effect of red 4 was to close the gap which means there is no reason later on to do it.  In a word, bullish.
- If we see 3 waves down at the start of next week, and I expect this will take 2-3 days to complete do don't get too anxious, and if that pullback comes to the level of the prior 4th which is about the same as the 50 fib OR the pullback comes all the way down to the 61.8 fib in 3 waves then BUY BUY BUY because after that we should expect blue 5 to unfold and the percentages involved here are quite sporty these days. 

With all that said, this is a 3 OR a C.  Don't forget that.  I think it is a 3 but folks, I can't see into the future.  It COULD be a C.  So wait for the 3 wave pullback and then buy but if it then hits a lower low then you have 5 down and that is a sell signal.

We'll cross that bridge when we come to it but in my view we are in the early stages of a powerful rally and likely a new bull market in M+M.