NUGT- Bought $12 Jan-17 calls, as GOLD reverse from strong supp

30 nov. 2016

GOLD (XAUUSD) seems reversing from its long term strong support of EMA 161, which is considered very crucial for gold. Interestingly the same reverse point is 68% Feb-retracement point of the December low of last year.

So we think gold will have a short term upward move, and to play this short pop potential we took NUGT $10 January-17 Calls last traded for $1.12

You can check our detailed analysis on NUGT in the trading room/ Executive summary link here-
screencast.com/t/7fEC4BuaGpng
Time Span: 13:20"
Trade Status: Pending

25 janv. 2017

Note

NUGT
Date First Found- November 30, 2016
Pattern/Why- Long from support
Entry Target Criteria- $10 Jan-17 calls @ $0.85 (November 30, 2016); March $10 Calls @ $2.51 (January 5, 2017)
Exit Target Criteria- Looking for just under 12 and 14 as short term targets. Longer term targets 16.33 and 23.77.
Stop Loss Criteria- $7.43 (Updated December 12, 2016)
Special Note- GOLD seems reversing from its long term strong support of EMA 161
Next Earnings Release Date- N/A

Relevant Updates:
January 24th- --------- Coming soon
January 23rd- --------- Coming soon
January 20th- went up a bit in option expiration trading day, however $10 Jan-17 calls option closed with a loss. Hope March call will make it.
January 17th- Jumped up & closed 7.94% higher today. Looking good as long.
January 13th- Consolidating around MA50, still like as long.
January 10th- Holding above EMA lines, still looking good as long.
January 6th- Declined & adjusted to EMA lines, still looking very good as long.
January 5th- It is flying to the sky!! Went up huge 17.8% today. $10 January-17 Calls traded for $1.30, that is 53% higher from entry price. We would consider $10 MArch-17 Calls @ $2.51

January 3rd- New year New run- Went up huge 12.57% today. Looking very good as long.
December 29th- Xmas magic or Newyear!! NUGT went up 23.2% today with huge volume. $10 January-17 Calls recovered the entire loss & traded for $0.87, that is 41% higher from entry price.
December 28th- Another strong day here with 5.8% gain. $10 January-17 Calls recovered a bit & traded for $0.20.
December 12th- holding above trend line support, adding a stop loss criteria at $7.43. .
November 30th- Took $10 January-17 Call position in the morning for $0.85, We will close this in profit or hold this till expiration.

1 févr. 2017

Note

January 31st- Jumped up & closed huge 9.27% higher. $10 March-17 Calls traded as high as $2.07.

January 27th- Nice 4.4% upward move. Moneyflow still very strong. We think it will go up from here.
January 26th- Seems rolling over, declined below EMA lines. Wait & see situation.
January 24th- Made a higher high & showing strong upward momentum. $10 March-17 Calls traded as high as $2.49.