Recall that NUGT is now 200% leveraged (previously 300%).
Things got a bit weird, but volume (not shown) and percentage gain (here) show that miner bulls got even bolder on 4/9 when the Fed announced they were buying junk bonds and everything else.
5min
(On the daily chart - not shown - GDX approaches potential triple top)
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Interesting day, AMZN and NFLX doing heavy lifting, also V and MA are down over 3% but SQ is now positive, what is going on.
Going long into the close, looking forward a squeeze up, given where LQD is and appears to be heading back up thinking SPY will follow and break above 275, looks to still close negative but should be above 275.
'Currently, only 9.6% of the companies listed on the NYSE are trading above their 200dmas — a sign that the market is still in a downtrend.
A number that would suggest the market has bottomed and is entering a new upswing would be around 15%.'
WSJ
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
'Buying corporate bonds and ETFs in the secondary market does nothing to help fund the economy, and merely helps the returns of investors who have already bought corporate bonds. It is a paradise for speculators.'
[FT]
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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