Picture this: You have invested most of your free cash set aside for investing in one thing, the JNUG ETF…
Bullion.Directory precious metals analysis 9 October, 2014
By Terry Kinder
Investor, Technical Analyst
JNUG ETF: Mauled by a bear or saved by a bull?
Oh, and the GDXJ which the JNUG tracks, only with 3 times leverage, has gone from $37.46 to as low as $31.28. Now you might be thinking, it can’t get worse, can it? It can always get worse and it did.
This morning the stock you started buying at $13.50, and that finished yesterday at $9.37, has managed to climb to $10.18, right before it fell off a cliff and sank to $8.45. Your account is now down 26% and its not even eleven in the morning. So, are you ready to quit yet or do you want to see just how low the price can go?
Looks like you might have picked a bad day to quit drinking.
With a 26% loss after less than two weeks invested in the JNUG ETF, perhaps it’s time to start drinking more.
Maybe your wife won’t ask you how that great investment you have been working on is going.
Heck, maybe she won’t ask you about that set of shelves you’ve been meaning to hang either, or to take the garbage out, or to put the dryer back together that has been sitting in pieces in the laundry room because you have been waiting for the parts to come in the mail so you can fix it.
Now for the good news: This story isn’t about you.
The bad news: This story is about me.
Well, everything except for the part about the shelves, and you know who you are.
Clever teaser:
Did I get mercilessly mauled by the stock market bear? Did I ever drink that ice cold beer?
Stay tuned for JNUG ETF: An Investor’s Diary Part 2 to discover the answers to those questions and learn how I got myself into this situation in the first place.
Links to other investor’s diaries in this series:
Part 2
Part 3
Part 4
Part 5
Part 6
Part 7
Part 8
Part 9
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The Bullion Directory shelves are still as of yet unfitted Terry…
As well they should be. Have you ever had a case of foot in mouth disease? I catch it myself from time to time. The only known cure is to keep my mouth closed 😉