The 100.50 rally target given here earlier still obtains, notwithstanding the sharp sell-off that finished the week. A ‘mechanical’ buy looks enticing under the circumstances, since it is geared to situations where a ‘D’ target looks like it will be achieved come hell or high water. ‘Hell’ in this case, or at least purgatory, would imply a pullback all the way back down to the green line, so I’ll suggest bidding there, at 76.88, for four 400 shares, stop 68.89. There’s risk that NUGT will reverse from somewhere above 76.88, stranding our bid, but you can somewhat counteract this with a ‘camouflage’ entry. Start looking for the reversal on the one-minute chart if and when NUGT falls to 78.51, a number that I’ve pulled out of thin air. _______ UPDATE (April 25, 12:39 a.m. ET): On the hourly chart, NUGT will become a mechanical buy on a pullback to 76.88, stop 68.99. That is the ‘x’ level of a bullish pattern, referenced in the current tout, that projects to 100.50. _______ UPDATE (April 27, 6:56 p.m): NUGT seems reluctant to pull back to our bargain-basement bid, but this needn’t prevent us from getting aboard. Traders should use the pattern shown — employing ‘camouflage’ or a ‘mechanical’ entry at any Hidden Pivot level — tied to a 105.75 target. _______ UPDATE (April 28, 10:20 p.m.): Judging from the discussion in the chat room, subscribers were able to jump on this monster before the rally kicked into high gear today. The 105.75 target remains valid, but there’s a new, high-odds one at 104.33 that could slow bulls down. Even so, there’s still plenty of room to be bullish short-term. _______ UPDATE (May 3, 12:19 a.m.): Expect NUGT to ease lower for at least another day or two, filling the gap between 101 and 105 (see inset) created by Friday’s powerful lurch higher.
