Friday, December 29, 11:17 am EST. I put a NUGT trade on little more than an hour ago, and it’s doing just fine… just as I had hoped. Let’s see where it ultimately goes.
But, my reason for this posting this is straight-forward. You’ll recall a few posts back that I apologized for missing the clear call of my timer to say that gold was at a lo-risk market entry place back on 12/12… and it most certainly was, as the indicators within the program, but one, had all signaled, and the one lone holdout was very close.
Now, however, after having taken a trading position in NUGT at 10:07, I thought I’d look in on NUGT in my stockcharts.com default setting, and I could have just kicked myself again.
My default set-up has RSI above the price chart, and RSI was under 30 on 12/12 and signaling. Under the price chart, I have a slow stochastic. It was under 20 on 12/12 and signaling. Beneath the stochastic, I have PPO and ADX, from which I look for the squeeze pattern… and while it was not as clearly defined as I would generally like to see it, the PPO was declining while the ADX was rising, and was in the process of creating the tell-tale signal of the P3 Squeeze back on 12/12 that so often proves to be so faithfully profitable. Or, in other words, I had so many things telling me after the close on Tuesday, December 12 to be a buyer of NUGT shares, I blew the opportunity even worse than I had originally apologized to you all for!!! So, again, I’m incredibly sorry about that failure on my part. We could have bought in around $24.50 on Wednesday morning the 13th, and it is at $32.10 as I type… that’d be a 31% gain, folks!
O, well, I got in at 31.52, and have a near 2% gain for the first hour and a half into it… I’m really awaiting next week with this, to see if my ‘thesis’ about what mining share prices have been doing plays out as I have ‘guessed’. Hey, it could work!