DUST 5 minute Oct 22nd
I’ve decided to go ahead & reverse back into the DUST long position after closing out the NUGT bounce long trade taken yesterday for a modest profit. Again, these are micro-managing trades within the official DUST long entry initiated in this post on Oct 15th.
Going forward, in order to keep the front page of the site more streamlined & geared towards typical swing trading, I will post most of these micro-managing trades (long/short reversal within the larger swing trade) within the Trading Room. That will also help cut down on the amount of email notifications sent out to those only interested in market analysis, swing trading & investing.
As this 5-minute chart of DUST shows, my primary scenario is a reversal off the bottom of this week’s Tue/Wed gap with the possibility (alternative scenario) of a continued move down to the 12.17ish support level. I went long DUST at the gap (in which GDX fell just shy of so far) with a stop below 12.06 (slightly below where my alternative scenario would have DUST reversing, should it take out that gap support.