Markets are impossible to predict

farmerjohn1324 said:
I've been following this fund almost daily since September. 95% of the time when it's positive in premarket, it ends the day positive. Usually it continues to increase. And I've never seen a day with it 10% in premarket like it was Monday.

After being 3% what?
More...


It was up nearly 3% AH yesterday (from the 4pm close).
 
farmerjohn1324 said:
That's right. I remember reading about that when I bought it. I read some people arguing to the contrary (that you could hold them longer than 1 day) so I decided to just go with it.

The spot price of gold is slightly up since the attack on the Iranian general. It's hard to know the exact hour the news was released. It's up 0.9% from the time of the earliest news release I can find.

But that fund is still up 78% on the year despite that you're not supposed to hold it more than 1 day.
More...
%%
NOT holding more than one day is just for lawyers laughs ,Farmer Jon, unless gold hits a bear trend LOL. BUT here are more profit hints ;NUGT compared to UPRO, or SPXL;

2020 NUGT= losing trade open to close 2020
NUGT 52 weeks >100%%
2 years about= flat
5yrs -16.96 %/OOPS/lousy trend
since inception -48%% VERY LOUSY TREND, unless you short the stinkin' thing---------------------------------------------------------------------------------------------------------------------------
UPRO[SPYx3]
2020 UPRO = profitable trade open to close
=52 weeks>59%
2 years= good trend
5years>25%
since inception =>37%
Anyway you do the math, see why SPY,S&P500 is the benchmark + not a leveraged gold fund??? Another hint gold has no earnings some gold stocks do, BUT ALMOST NEVER DO gold stocks sector do a top trend.
See why even a leveraged SPY ETF, like UPRO is much more likely to make money than NUGT; hint most UPRO profit time frames are better than NUGT??? [NOT long or short either one; did close out some SPY+ SPXL profits + got some SPY diVidends]

Both can do well in a good long uptrend; sorry NUGT has lost so much, in so many trends=live + learn....................................................................................
 
farmerjohn1324 said:
What was?

My original post was of a 3x leveraged fund of gold miners stocks. And I was referring to premarket before opening Monday.
More...


Read your first post.

You could have dumped your ETF AH yesterday. GLD was up almost 3% AH. So 3x and you're there. I don't know what the liquidity is like, but yeah, you got caught in a reversal that occurred after hours.

Get over it if you can or find another line of work.
 
murray t turtle said:
%%
NOT holding more than one day is just for lawyers laughs ,Farmer Jon, unless gold hits a bear trend LOL. BUT here are more profit hints ;NUGT compared to UPRO, or SPXL;

2020 NUGT= losing trade open to close 2020
NUGT 52 weeks >100%%
2 years about= flat
5yrs -16.96 %/OOPS/lousy trend
since inception -48%% VERY LOUSY TREND, unless you short the stinkin' thing---------------------------------------------------------------------------------------------------------------------------
UPRO[SPYx3]
2020 UPRO = profitable trade open to close
=52 weeks>59%
2 years= good trend
5years>25%
since inception =>37%
Anyway you do the math, see why SPY,S&P500 is the benchmark + not a leveraged gold fund??? Another hint gold has no earnings some gold stocks do, BUT ALMOST NEVER DO gold stocks sector do a top trend.
See why even a leveraged SPY ETF, like UPRO is much more likely to make money than NUGT; hint most UPRO profit time frames are better than NUGT??? [NOT long or short either one; did close out some SPY+ SPXL profits + got some SPY diVidends]

Both can do well in a good long uptrend; sorry NUGT has lost so much, in so many trends=live + learn....................................................................................
More...

Nugt 52 weeks >100%?

Are you referring to ttm?
 
farmerjohn1324 said:
Another moral I've learned is to never bet against the market. There's over 7 billion people on Earth, and 100% of them want the economy to do well. Trying to predict doomsday is not a good strategy.
More...

Although that's not the reason to avoid shorting the market. How come those 7B could not stop the market from going down in 2008? Fundamentals will ultimately matter.
 
You must log in or register to reply here.
Back
Top