Your current moderate speculative positions should include …
ProShares UltraShort Euro, symbol EUO. Hold, and place a good-till-canceled protective sell-stop at $22.25.
The euro has been on a tear lately, up about 7% against the dollar this year, thanks to better-than-expected economic data, and easing political risk across the eurozone. But there are plenty of warning signs flashing red. So I remain cautious of this latest push higher. Plus, the euro is running into stiff overhead resistance at the 1.13 level against the dollar.
I expect the euro to fail at these levels and we should see downward pressure on the euro gathering steam very soon, so continue to hold.
If not on board, you may purchase EUO at the market using 10% of the funds you have allocated to The Speculator section. Place a good-till-canceled protective sell-stop at $22.25.
ProShares Short QQQ, symbol PSQ. Hold, and place a good-till-canceled protective sell-stop at $35.85.
The resilient U.S. stock market is reaching extremes and remains near all-time highs, but stocks are extremely overextended. The tech-heavy Nasdaq 100 is up more than 20% year-to-date and is long overdue for a sharp correction. And the AI cycle-forecast models are still indicating a steep decline is coming soon. So continue to hold.
If not on board, you may purchase PSQ at the market using 10% of the funds you have allocated to The Speculator section. Place a good-till-canceled protective sell-stop at $35.85.
ETFS Physical Platinum Shares, symbol PPLT. Hold, and maintain a good-till-canceled protective sell-stop at $81.07.
Platinum prices have continued to drift sideways since we entered this position in March, trading mostly in a range between $975 and $900. But a bottom is near and I expect to see platinum break out of the top of this range soon. Plus, the AI cycle-forecast models are still showing platinum heading higher into early fall. So be patient and continue to hold.
If not on board, you may purchase PPLT at the market now using 5% of the funds you have allocated to The Speculator section. Place a good-till-canceled protective sell-stop at $81.07.
