Because 3x leveraged ETFs are best used only for day trades as they suffer from price decay when held for extended periods of time & of all of the 3x leveraged ETFs out there, I know of none other that suffers from decay as much as DUST & NUGT. As this trade could last for several weeks or more, shorting NUGT to let the decay work for your position, instead of against it as would be the case with a DUST long, is preferable IMO. For a more detailed explanation of how the decay from leveraged ETFs works, see the FAQ titled “Is there a disadvantage of holding a leveraged ETF over an extended period of time?” which can be found under the ETF Related Questions tab: http://rightsideofthechart.com/frequently-asked-questions/

-Yes, NUGT / GDX is an official trade with price targets, a suggested stop & more frequent updates to follow.
-So far, Yes, although the current break below the wedge will only be confirmed should we close well below it today as I’m viewing those GLD & GDX wedges on the daily time frame. I don’t expect a retest or false sell signals but anything is possible.
-Maybe but most likely, no. I will probably not reverse short to long when I close out my NUGT short as I sometimes do. More likely close out the short & then watch GLD, GDX, & the dollar for a while before deciding if & when to position long.
-You’re welcome & good luck!