Buying long-call on the NUGT

[Mr. Crabs]

I expect there will be another gold rush, it appears to be obviously gearing up for an up-trend, I am considering buying some calls on the NUGT to hit some big gains.


3X gold movement + the extra profits the option provides could bring fantastic profits.

Any thoughts on the NUGT? Personally I think with the fiscal cliff scare people are going to be less confident with the dollar and more confident buying a precious metal if the GREAT short term profits we've been seeing in the market this past year dry up for a few months - quarters.

 

[Mr. Crabs]

Glad to see this forum is still active by the way, it has had a surprisingly long run, this is my second time stopping in here, glad to see a reply to my other thread.

 

[Lodian1019]

I expect there will be another gold rush, it appears to be obviously gearing up for an up-trend, I am considering buying some calls on the NUGT to hit some big gains.


3X gold movement + the extra profits the option provides could bring fantastic profits.

Any thoughts on the NUGT? Personally I think with the fiscal cliff scare people are going to be less confident with the dollar and more confident buying a precious metal if the GREAT short term profits we've been seeing in the market this past year dry up for a few months - quarters.

Considering buying into some tracker ETFs myself. Same with Silver.

Lodi

 

[Mr. Crabs]

Considering buying into some tracker ETFs myself. Same with Silver.

Lodi

It's definitely looking attractive down here.

 

[wino59]

I expect there will be another gold rush, it appears to be obviously gearing up for an up-trend, I am considering buying some calls on the NUGT to hit some big gains.

What are you basing this on? Your gut feeling... Took a quick look at the chart, it is in a down trend, as is Gold... NO Reason to go long yet. I would wait until you had a clear signal the down trend has ended.

 

[malaguti]

What are you basing this on? Your gut feeling... Took a quick look at the chart, it is in a down trend, as is Gold... NO Reason to go long yet. I would wait until you had a clear signal the down trend has ended.

depends on your timeframe really..i'd say it was way too early to be calling this a down trend. I'd certainly be looking for an opportunity to go long; just not now

 

[wino59]

depends on your timeframe really..i'd say it was way too early to be calling this a down trend. I'd certainly be looking for an opportunity to go long; just not now

agreed I don't see anything on the chart that would make me want to go long right now, but possibly something to watch.