While NUGT has been an unofficial trade idea since just off the recent highs (posted in the trading room), I now believe that the R/R to short NUGT (preferred) or GDX here at NUGT 99.50 or GDX 24.75 is favorable. While I often highlight how the initial reaction to FOMC meeting announcement or the release of the minutes from the previous meeting are often faded, I think this time around will be different.

Charts, price targets, suggested stops & additional notes will follow. I just wanted to get this short entry out asap as I think the odds for a sharp selloff in the miners is quite elevated right now.