Issue #10
Dear Member,
No time to waste: Gold and silver have cracked hard again this morning, breaking short-term support levels. As I had suspected all along, another leg to the downside is here.
So I have two trades for you this morning: I recommend buying the inverse ETFs ProShares UltraShort Gold (GLL) and ProShares UltraShort Silver (ZSL).
I also recommend allocating 5% of your available Gold and Silver Trader (GST) funds to each trade. Specific instructions are below, where “XX” equals the number of shares you would purchase based on allocating 5% of your available funds to each.
For gold:
I want to buy XX shares of ProShares UltraShort Gold, symbol GLL, at the market. I also want to sell ALL of my shares of ProShares UltraShort Gold, symbol GLL, at $95.86, STOP. This order is good till cancelled.
For silver:
I want to buy XX shares of ProShares UltraShort Silver, symbol ZSL, at the market. I also want to sell ALL of my shares of ProShares UltraShort Silver, symbol ZSL, at $98.77, STOP. This order is good till cancelled.
Go ahead and get these orders in pronto. I’ll have more details for you early next week. But gold and silver’s lack of upside action in response to the coup in Egypt, as well as Portugal and Italy running into debt problems again, means new lows should be expected in both metals. There is a good chance that they will both fall to new lows before making a final bottom.
Best wishes,
Larry
