This Is The Most Important Chart for Gold Investors to See Right Now
There’s a lot of talk about the relative strength of gold stocks in the recent sell-off for gold.
But nothing sticks out quite like this. . .
The Direxion Daily Gold Miners Bull 3X Shares (NUGT) traded its entire market cap yesterday.
Yes, you read that correctly – its entire market cap in just one day.
Just look at the volume. . .
That equates to $1.2 billion – or 14x the daily average. . .
One can only surmise that there was a massive buyer(s) in the mix. Otherwise, we could have expected the sector to fare far worse, on a day where gold dropped $14, to close at $1227.
Is this a classic bear trap – or will gold stocks soon play catch up?
Only time will tell, but yesterday’s action in NUGT could be a very strong sign that the bottom is in.