JNUG ETF: An Investor’s Diary Part 2

The JNUG ETF is starting to make me feel like a card carrying member of “Knife Catchers Anonymous”

Bullion.Directory precious metals analysis 10 October, 2014
By Terry Kinder
Investor, Technical Analyst

JNUG ETF: May drive me to drinking yet!
Image courtesy of pixabay.

After plunging as low as $9.27, resulting in a 26% loss, the JNUG price ran up to $11.87, temporarily putting the entire position in the black.

By the end of the day price had dropped to $10.88, resulting in a small overall loss for the investment through yesterday.

Today the price action of the JNUG ETF was just as wild. The price opened the day at $10.70 and fell down as low as $9.50. At one point in the day it stood at $11.27 before finally finishing in after hours trading at $9.99. So, at this point my position is down 11.23% after being down over 26% during the day yesterday.

At this point, I’m starting to feel a bit like a knife catcher…

JNUG ETF: Catching a falling knife is harder than it looks.
Image: pixabay.

But, you may be wondering, how did I get into this trade in the first place?

Well, JNUG is something I have been watching for some time. One place I first noticed some posts about the JNUG ETF was The Daily Gold. It seemed intriguing, so I posted about it over at the gold and silver community where I am one of the moderators.

Over time my thinking on JNUG began to evolve from looking at the investment through the lens of Point and Figure Charting to viewing it from the perspective of price cycles.

Part of the reason the wild price swings of the JNUG ETF haven’t driven me to drink yet are some things I discovered about the JNUG price cycles and a technique to project pivot high and low prices.

Stay tuned for JNUG ETF: An Investor’s Diary Part 3 to learn more about the underlying price cycles that influence the JNUG ETF price as well as a simple technique you can use to forecast pivot high and low prices.

Links to other investor’s diaries in this series:

Part 1
Part 3
Part 4
Part 5
Part 6
Part 7
Part 8
Part 9

This license allows for redistribution of this article, commercial and non-commercial, as long as it is passed along unchanged and in whole, with credit to Bullion.Directory, linking to the original article.
 
Bullion.Directory or anyone involved with Bullion.Directory will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading in precious metals. Bullion.Directory advises you to always consult with a qualified and registered specialist advisor before investing in precious metals.

 Previous Post

JNUG ETF: An Investor's Diary Part 1

Next Post  

GDXJ: Have Junior Gold Miners Bottomed?