Miners ETFs i.e.: $NUGT

ScalperJoe said:
Well said regarding GLD/GDX/GDXJ.

Regarding XOP and USO, after receiving a K-1 statement to my surprise for USO, I'll never trade it again, as it was a hassle during tax time, EVEN for IRA account! It's a master limited partnership, and they don't care even if you trade it in an IRA, you still have to report the damn gain. There is a master limited partnership called Alarien (AMLP) that won't send you the K-1, but it's not as volatile as XOP or USO.

Of course, if you're trading within a prop account then it's the firm's master account so you won't have to worry about getting a separate K-1 for that stock. Also, I don't think you will get the K-1 if you trade options on USO, only the equity.

If you want to trade crude, then look at XLE (energy) and OIH (oil services/drillers).
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The OP wants to trade vehicles that are moving more or less in tandem with futures so XLE or OIH would not qualify.
 
True, /CL doesn't trade according to the moves in XLE/OIH. USO is more representative of the crude futures contract, however as long as it's prop he won't get the separate K-1, the firm will. The OP was asking about why the miners don't synch with /GC. As you stated, GLD is more in line with the volatility of a /GC move.
 
Yes, they are incredibly volatile... I'm still working on my discretionary systems and I'm not doing very well with these volatile miners stocks. I'm looking for something that mirrors the futures contracts. Looks like I'll be trading GLD (is there something cheaper?). GDX would be a good fit for me but like the other miners ETFs, it doesn't always move in tandem with the front month's futures contract.
 
NUGT moves well and is not as volatile as DUST. NUGT doesn't seem to have a lot of correlation with GC. Especially today, GC opened down a lot compared to friday's close and NUGT opened at friday's close.
 
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