NUGT DUST Gold Miners ETF Update – 081312

NUGT has completed a seven day bounce, which stalled right on the 20ma weekly.  The inverse Gold Miners ETF DUST, bounced off it’s 200dma.  A 7 percent reversal in both ETFs occurred from their stall points.  The weekly chart is still bullish.  There’s a possibility of having the bullish NUGT pull back , and be followed by an overnight gap higher, which would strand bulls, and squeeze the shorts in DUST.  Looking for an entry around the NUGT 20dma, and hope I want it after.