Posted: 6/24/2014 5:57:24 PM EDT
| I sold my nugt today and am now thinking of investing the proceeds of that sale in Dust ETF. Does anyone have any past experience with dust it looks to me as if it is near its 52 week low. |
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No personal experience with it, but it looks like a more "advanced" ETF for someone who is more risk tolerant and very in-tune with the gold market, IMO.
It's intended to move 300% in the inverse direction of the NYSE Arca Gold Miners Index, on a daily, not longer, time frame (but I'm assuming you already know that). I don't mean that to sound condescending by any means, I just think it's worth mentioning so everyone is on the same page. I wouldn't touch it, I don't know enough about precious metals. 
I'd be curious to hear why you're interested in it though. |
| I feel that gold has rallied over the last week but really think that it is short lived which would work as an advantage for dust. I do realize that it is a very high risk ETF this is not my retirement money I am spending that is kept separate. High risk ETF's have a huge upside to them but I could also lose my ass. I guess the potential upside is what interest me the most. |
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Ive been in and out of both NUGT and DUST a few times this year.
The real question is ... where is gold headed. Thats a matter of opinion...and everybody has one of those
My take is that while its not a bad idea to take profits while you have them, I would NOT be a short seller of gold right now. Sure, it might correct a little here and there, but all accounts, it looks like a strong bottom has been put in. Instead of buying DUST here, I would wait and buy NUGT again on the next decent pullback. Just my 2 cents. There a lot of factors swirling around this market right now. |
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Quoted:
Ive been in and out of both NUGT and DUST a few times this year. The real question is ... where is gold headed. Thats a matter of opinion...and everybody has one of those
My take is that while its not a bad idea to take profits while you have them, I would NOT be a short seller of gold right now. Sure, it might correct a little here and there, but all accounts, it looks like a strong bottom has been put in. Instead of buying DUST here, I would wait and buy NUGT again on the next decent pullback. Just my 2 cents. There a lot of factors swirling around this market right now. This is what i decided to do buy back at low $30s and ride it up again. Thanks guys for the insight. |