Quick Win by the Algorithm

Direxion Daily Gold Miners Bull 3X ETF (NUGT)

On June 26, 2016, the I Know First algorithm gave a bullish signal of 106.79 for the ticker NUGT with a predictability indicator of 0.32. In accordance with the algorithm’s prediction, NUGT experienced a quick win with outstanding growth of 46.27% in just 14 days.

Direxion Daily Gold Miners Bull 3x Shares (NUGT) is an ETF of Direxion that tracks the NYSE Arca GoldMiners Index.

I Know First has been following NUGT closely since June 26^th, 2016 when the algorithm accurately predicted that the stock would increase. As predicted by the algorithm, between June 26^th and July 10^st, the price of the stock increased by 46.27%.

Gold prices have been rallying and even surpassed a 2 year high since the surprising June 24th announcement that Britons had voted to leave the EU in what has become known as Brexit. The Fed is not expected to raise interest rates in the near future while it awaits economic calm after the Brexit storm. Gold prices tend to be higher when interest rates are lower because lower interest rates cut the cost of holding gold, a safe haven asset when markets are volatile, while weighing in on the dollar.