Editor's Insight: Gold and Silver Starting to Move Lower

Gold and Silver Starting to Move Lower,
As Expected. Hold Your Bearish Positions.
New Members: Here’s What to Do …

Dear Member,

Just a quick note here: Gold and silver are both moving lower this morning, as expected. I’ve been warning that another decline was coming, and the chart I showed in my last issue was right on target.

Overhead resistance repelled both gold and silver, and now gold and silver are testing support levels at the $1,310 and $19.40 areas, respectively.

My recommended positions in the inverse ETFs ProShares UltraShort Gold (GLL) and ProShares UltraShort Silver (ZSL) are starting to spring higher. You are showing an open gain of nearly 7% in ZSL and more than 2% in GLL.

I expect more gains in these inverse ETFs. Gold should soon break sharply back below $1,300 and silver well below $19.00

Hold your shares in ProShares UltraShort Gold (GLL) and ProShares UltraShort Silver (ZSL) and maintain your protective sell stops at $85.09 and $82.19, respectively, on a good-till-cancelled (GTC) basis.

NEW MEMBERS: Welcome aboard! It’s not too late to act on the above recommendations to start up your portfolio. Provided you are ready to trade, allocate 5% of your available Gold and Silver Trader funds to each trade.

Here are the specific orders, including protective stops, for each, and where “XX” equals the number of shares you would purchase based on allocating 5% of your available funds to each position …

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 $85.09, 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 $82.19, STOP. This order is good till cancelled.

Go ahead and get these orders in pronto.

ALL MEMBERS: Stay alert. Tomorrow I will be releasing at least one new recommendation to buy shares in a mining company, and possibly in as many as three different mining firms. My work is showing that — despite weakness and a renewed decline in gold and silver — select mining shares are at or very near a bottom.

I repeat, be ready to act on a new recommendation(s) tomorrow!

Best wishes,

Larry