An Attractive Point of Attack; Chess Moves

I went long NUGT again, the triple-long ETF for for the senior gold miners, at $18.46 with a protective stop-loss below $17.20. This position represents roughly 4% of my trading portfolio capital. I have played the gold miners numerous times this year with good results. But, of course, each trade is going to need to stand on its own merits. It would be a mistake to think that I have a certain edge with any one instrument or sector. Thus, humility and discipline are still the focal points for playing these levered ETFs. Note that NUGT is simply the triple-long version of GDX, ETF for the senior gold miners. On the daily chart, below, for GDX, note the narrowing consolidation, perhaps bull flag, after the breakout to begin 2015. Miners are outperforming the metal today, giving the bull thesis another dose of credence. ABX is an individual miner of note, with a well-defined potential major bottoming pattern in place.