26 thoughts on “Another chart of the day – JNUG

  1. Gary Post author

    Anyone who bought JNUG at $23 and has the fortitude to hang on till the end is going to be rich beyond their wildest dreams.

    I’ll wager though that none will make it.

  2. Gary Post author

    We’re getting a glimpse into what the bubble phase is going to be like with bitcoin.

    It’s becoming insanely volatile which is typical of a bubble nearing the end. Those that hang on too long will lose all of their gains in a matter of days.

    The only way to escape this fate is to pick a spot and decide you are happy and you’ve made enough. Get out and stay out.

    I’m not sure if bitcoin topped today or not. If I had to guess I’d say it still has at least one more run at new highs, but all the signs are there. The vertical phase is near 5 months old and very mature, and we have a huge drop today. It’s conceivable that the bitcoin bubble burst today.

    1. dboz

      The psychology of it is interesting. Essentially fear and greed. People jump in at the top expecting ravinous gains. The early holders bail and are happy. The late arrivers panic and hold hoping for another huge rebound that never comes. They hold too long and end up the ultimate bagholder never to recover their losses. Just look at the Nikkei from the 80’s. Never even past 50% in over 30 years. If you did not sell at the high you never recovered.

    2. [email protected]

      Dips are clearly being bought greedily. If somebody told you 3 years ago that BC would reach 5K today, you probably would have laughed at them. When big money enters BC and more country’s do what Japan recently did, BC will explode upwards and surely it will beat Nasdaq in the 20000$ race 😃

  3. bigglaze

    Interesting enough, VectorVest just gave a bullish signal for gold again this past Monday (their “midas touch” timing system) I’m very much looking forward to the volatility. Lots of $$ to be made!

    1. Gary Post author

      It’s still too early to tell if the dollar has put in a temporary bottom. No matter though as it is now in a bear market.
      Gold could also just ignore the dollar. It’s happened many times in the past.

  4. TraderPete

    Belkin says…sell the stock market and buy silver instead, especially the miners. He may or may not be right, I don’t know. You can read and listen to him on KWN.

  5. Christian

    After painfully reading through the last couple of post, I was very quickly reminded of one simple fact: most of the Goombas on this blog are clueless beyond belief — harsh.. but true.

    Most of you will never learn because you simply cannot get past your own idiocy :/

    1. Gary Post author

      The reason people don’t make money isn’t because they can’t get past their own idiocy, it’s because they can’t control their emotions and most don’t have the patience to make money in this business. Investing is a waiting game, not a video game.

      So many people bailed two weeks ago. If they had just waited two more weeks they would have reaped the reward.

    1. Christian

      Yeeeaaaaaaah sorry Alvin! Kim Jong un never gave me the heads up on those missile launches but believe you me sweetheart that DCL – no matter how late – is coming soon to a theatre near you and it’s gonna be a good one 🙂

      In the meantime, feel free to post an idea of your own.. oh you don’t have one?! Well hot damn! What a surprise, Lol!

  6. Steffmeister

    Happy Saturnday 🙂

    Ok, maximum up potential for S&P500 is less than 1% according to my work . Looking at the chart, that seems like a stupid call today, maybe the news is about to support my idea?

    How about some major GV event coming soon, I don’t know.

    Talking about the j-nugget, JNUG is one of my 21miners and the best performing “miner” so far. If you are able to catch a trend it is a very nice vehicle to own.

    To be honest I had to throw out a couple of rotten apples in my portfolio. Company risk is a hard thing to deal with. Earlier in my “career” I just waited for things to turn around, now I’m trying to jump out as quick as possible.

  7. WYSIWYGN

    @TraderPete: KWN? those doom prophets? according to them gold should already be at 70000000000000000000000

    Another reminder: when does the ICL at 1180 come ? and the one at 1265 ? NEVER

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