Gold Following Through

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Over the past few weeks we’ve penned several articles pointing to precious metals finally being in a position to rally.

Precious Metal Stocks, Finally In a Position To Rally

Golden Rules of Time, Price & Pattern

GLD Forecast

On Tuesday morning, I called an audible long intraday on JNUG (a triple long ETF on GDXJ).

Gold miners erupted on Wednesday and we trimmed 1/3 for a 2.60 gain and 1/3 for a 6 point gain, with GLD challenging our INITIAL projection of 169.

Breakage above 169 opens the door to a powerful new upleg.

In sum, double and triple ETF’s cut both ways. But when you see the whites of the setup's eyes, this is when I like to implore leverage.

This was the setup on GDXJ’s 2 day pullback into an opening low on Tuesday.

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