Gold Update, NUGT

 

In the first chart below, we see gold is enjoying a 16-year uptrend and we see a nearly 6-year downtrend which will be broken if gold is trading above $1300. 

Here's a close-up:

On March 5th we suggested NUGT at "around $8". 

NUGT went higher and we subsequently suggested a stop at $8.80 to preserve at least a 10% gain or a stop at $8.00 to prevent a win turning into a loss. 

NUGT closed Wednesday at $11.20 and if you still hold it we suggest a stop at $10.45 

We've had great luck with NUGT, most notably gains of up to 450% last year and additionally roughly another 70% this year.

We remain bullish on gold and silver in the intermediate term, and maintain there's tremendous upside potential if gold is trading above $1300 while silver confirms by trading above $20.

 

 

 

 

 

 

 

 

 



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