#ContangoETFs NUGT’s free-fall yesterday, presumably on FOMC minutes, got me thinking if there were s/r levels to hang on before bailing on my short put positions, and remembering that gold has a mind of its own, where is support? The 52 week daily levels are the low on Jan 19 at 17.40, and the high on May 2 at 123.96 a 50% fib retracement between those points is $70.46 NUGT closed at $84.52 about 10 pts above the lower BB and 3 pts above the 50 day ema.

So, I have more questions than answers about NUGT s/r levels but interested in others comments…for sure those with short calls made some bucks today!