| For ALL Members:
Cancel and replace your protective sell stop in PowerShares DB Gold Double Long ETN, symbol DGP, at $31.42 and raise to $32.56, STOP. This order is good till cancelled. |
Issue #33
Dear Member,
Gold hit $1,413 in early morning Asian trade, and is likely to soon test major resistance at the $1,420 level, followed by even stiffer resistance at $1,433.Let’s move the protective sell stop again. All members who are long shares in the PowerShares DB Gold Double Long ETN, symbol DGP, should act on the above recommendation.
Right now, gold is being driven higher mainly by fears the U.S. will take military action in Syria. But don’t bet on that sending gold to the moon. That’s not likely at this time. A test of major overhead resistance is, and then it’s likely that gold will then turn back down. Be ready to exit the existing position on a moment’s notice, and even reverse to a bearish position.
Stay tuned.
Best,
Larry
