NUGT/JNUG Gold

Not a recommendation to buy or sell anything. Please consult with a qualified financial adviser before making any investment decisions. I just thought I ought to put up a real trade since I'm spending so much time here these days.

Based on the fact that the 9EMA has crossed up through the 20MA and per my own trading method, I went long NUGT and JNUG on Friday, 01/03/2013. 25 shares each as a start to 100 share positions. I will add more, perhaps in 25 share increments, as NUGT moves up. What I'm waiting for now is a confirmation of the potential Wilder's ADX buy signal. The +DI line crossed up through the -DI line this past Thursday. That day NUGT had a high of 31.24. Confirmation of the Wilder's signal will come when NUGT closes above 31.24. Should NUGT drop below and close below the 20MA before moving higher, I will likely get out, taking a large percentage loss but only a small dollar loss. The chart of JNUG looks almost identical to that of NUGT.

The plan is to hold these for a while, weeks, months, or longer, so this isn't just trade. If I get knocked out of these positions because of closes below their respective 20MA's, I'll watch for another opportunity.

NUGT at 31.21
JNUG at 18.70


GL in the week ahead.