+32R in $NUGT: Look Beyond Equities

jfsrevg
08-22

$VanEck Gold Miners ETF(GDX)$ is still pushing higher, with $Direxion Daily Gold Miners Index Bull 2X Shares(NUGT)$ now at +32R. The pre-market action is adding even more strength to the move.

This is shaping up to be a commodities and crypto week, so I’m widening the net beyond equities. 🌎

When one part of the market isn’t working, there’s no reason to keep forcing trades there.

I lost nearly -1.4R across three separate attempts in $Dell Technologies Inc.(DELL)$ and $Hewlett Packard Enterprise(HPE)$ — two full stop-outs and one breakeven.

The worst thing I could do now would be to become emotionally attached to recovering those losses by repeatedly forcing breakout or mean-reversion setups in the same names.

The market doesn't owe me a recovery.

Instead, I’m looking across asset classes for where the strongest opportunities are developing.

🎯 On the Radar

🥇 $VanEck Gold Miners ETF(GDX)$
⛏️ $VanEck Junior Gold Miners ETF(GDXJ)$
⚪ $abrdn Physical Palladium Shares ETF(PALL)$
🪙 $SPDR Gold ETF(GLD)$
🚀 $Direxion Daily Gold Miners Index Bull 2X Shares(NUGT)$
🚀 $Direxion Daily Junior Gold Miners Index Bull 2X Shares(JNUG)$

Stay flexible. Don't fight the market just because you lost a trade.

Cast a wider net, follow the strongest themes, and let the next opportunity come to you. 🎣📈

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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