After selling DUST for a tinny 2% profit, I took a position
in NUGT at $14.42 this afternoon. It’s been a though day for gold and
particularly for gold miners. I decided to keep NUGT overnight because I expect
GDX to rise to in between $21.00 and $21.50 tomorrow, which would be
interesting for NUGT.
Among the good news, NEM has beat earnings expectations and
is currently up 1.23% after hours.
However, my analysis suggests next week might be a bad week
for gold and gold miners. If NUGT sees profit tomorrow, I won’t keep it through
the weekend.
Gold has been offering average returns on a risk-adjusted
basis, and some other commodities like natural gas are starting to be more
interesting.
That being said, I firmly believe that in the long run gold
miners are one of the best investment one can make. They currently sit at their
lowest valuation ever according to my models.
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