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Thread: Gold dumps $48 in 1-minute

  1. #13

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    Default Re: Gold dumps $48 in 1-minute

    Quote Originally Posted by k0nkuzh0n View Post
    Oh my, just saw the NUGT/DUST daily changes... -30.9% and +32.46% respectively... that is insane!
    Yes. You were right, you gotta be a nnuut to trade NUGT/DUST.
    [COLOR=#0000ff][FONT=comic sans ms][I]"In the land of idiots, the moron is King."--Unknown[/I][/FONT][/COLOR]

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  3. #14

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    Default Re: Gold dumps $48 in 1-minute

    Quote Originally Posted by userque View Post
    Yes. You were right, you gotta be a nnuut to trade NUGT/DUST.
    You just better be on the RIGHT side of the trade... on any 3x ETF
    Rules:
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  5. #15

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    Default Re: Gold dumps $48 in 1-minute

    Quote Originally Posted by RealMoneyIssues View Post
    You just better be on the RIGHT side of the trade... on any 3x ETF
    ...not necessarily every time, just more often than not.
    [COLOR=#0000ff][FONT=comic sans ms][I]"In the land of idiots, the moron is King."--Unknown[/I][/FONT][/COLOR]

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  7. #16

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    Default Re: Gold dumps $48 in 1-minute

    Quote Originally Posted by userque View Post
    ...not necessarily every time, just more often than not.
    well, true...

    money management
    Rules:
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    - Don't put stuff in your signature that a Mod doesn't like

    "Government exists to protect all people’s rights, not some people’s feelings." - A. Barton Hinkle

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  9. #17

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    Default Re: Gold dumps $48 in 1-minute

    Really and truly, something this volatile ought to be left to Tom and other intraday traders....unless (as they also say in Vegas) you gotta system
    [COLOR=#0000ff][FONT=comic sans ms][I]"In the land of idiots, the moron is King."--Unknown[/I][/FONT][/COLOR]

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  11. #18

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    Default Re: Gold dumps $48 in 1-minute

    Quote Originally Posted by RealMoneyIssues View Post
    well, true...

    money management
    Yeah. This seems to escape most. Word Problem:

    Jane trades her whole balance on one etf that averages a range of 2% per day. She is comfortable with that level of risk. What percentage of her balance should she use to trade an etf that averages a range of 10% per day and still be comfortable?

    .....20%

    Here's the rub. You can never increase you risk/reward with the 2% etf; but with the 10% etf and proper money management, you can pick and choose your risk/reward level upwards (or lower) from the 2% level!
    Last edited by userque; 07-20-2015 at 07:57 PM. Reason: added 'seems to'
    [COLOR=#0000ff][FONT=comic sans ms][I]"In the land of idiots, the moron is King."--Unknown[/I][/FONT][/COLOR]


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  13. #19

    Default Re: Gold dumps $48 in 1-minute

    Quote Originally Posted by RealMoneyIssues View Post
    You just better be on the RIGHT side of the trade... on any 3x ETF
    NUGT is down 40% in the past 2 trading days. You'd need a 67% return just to get back to where you were 2 days ago. That-a big ouch!

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  15. #20

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    Default Re: Gold dumps $48 in 1-minute

    Quote Originally Posted by k0nkuzh0n View Post
    NUGT is down 40% in the past 2 trading days. You'd need a 67% return just to get back to where you were 2 days ago. That-a big ouch!
    That could happen in .... 2 days.
    [COLOR=#0000ff][FONT=comic sans ms][I]"In the land of idiots, the moron is King."--Unknown[/I][/FONT][/COLOR]

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  17. #21

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    Default Re: Gold dumps $48 in 1-minute

    Another thing that seems to be misunderstood about volatile etf's/stocks is that those stocks moving 30% in one direction is not the same as less volatile stocks moving that same percentage. Because, well, these instruments are...volatile.

    If they move 10 times as much as your favorite calm stock, then a 30% move in the volatile stock is the "same" as a 3% move in your favorite calm stock. And just as your calm stock can recover from a 3% move in the wrong direction, so too can the volatile stock recover from a 30% move in the wrong direction.

    [COLOR=#0000ff][FONT=comic sans ms][I]"In the land of idiots, the moron is King."--Unknown[/I][/FONT][/COLOR]

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  19. #22

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    Default Re: Gold dumps $48 in 1-minute

    Quote Originally Posted by userque View Post
    Another thing that seems to be misunderstood about volatile etf's/stocks is that those stocks moving 30% in one direction is not the same as less volatile stocks moving that same percentage. Because, well, these instruments are...volatile.

    If they move 10 times as much as your favorite calm stock, then a 30% move in the volatile stock is the "same" as a 3% move in your favorite calm stock. And just as your calm stock can recover from a 3% move in the wrong direction, so too can the volatile stock recover from a 30% move in the wrong direction.

    Yes, but again, you better be on the right side of both those trades because if not... you'd be down 76% and need 400% to recover... sux
    Rules:
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    - Don't put stuff in your signature that a Mod doesn't like

    "Government exists to protect all people’s rights, not some people’s feelings." - A. Barton Hinkle

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  21. #23

    Default Re: Gold dumps $48 in 1-minute

    I bought some NUGT after hours for 3.51. Couldn't resist. This won't be a day trade. More like 1 to 2 weeks. There are some extreme oversold readings.

    This was in SentimenTrader Home last Thursday (7/16)...

    Precious metals have been taking a hit lately, and that has reflected on the miners. Every stock in the HUI Gold Bugs index has traded below its 10 - , 50 - and 200 - day moving averages for the past two days, and on both days more than a third of the stocks have reached 52 - week lows. In the history of the index, this has occurred on 9 other days, clustered in four time frames (early September 2008, mid - October 2008, mid - May 2012 and late October 2014). They all occurred within several days of 10% rallies in HUI and other indexes of gold miners. They should be getting a reprieve soon, with any heavy selling in the coming day(s) likely to be exhaustive and quickly reversed.
    Like I said, this was 3 trading days ago and now we've gotten the "heavy selling."
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

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  23. #24

    Default Re: Gold dumps $48 in 1-minute

    FWIW:

    A Ratio Worth Respecting

    A Ratio Worth Respecting | Slope of Hope

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