Issue #52
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Recommendations: 1. Raise your protective sell stop for your shares in Direxion Daily Gold Miners Bear 3X Shrs, symbol DUST, from $26.22 STOP, $25.29 LIMIT, good till cancelled … to $35.18 STOP, $34.48 LIMIT, good till cancelled. 2. Buy 100 shares of Velocity Shares 3x Inverse Natural Gas ETN, symbol DGAZ, at the market, to open. Then enter a protective order to sell 100 shares of Velocity Shares 3x Inverse Natural Gas ETN, symbol DGAZ, to close at $13.09. This order is good till cancelled. |
Dear Member,
Though the trend is still negative for gold and silver, there is some buying pressure emerging this morning coming from those who believe that the stock market may meltdown due to the budget and debt ceiling impasse. As a result, gold and silver are creeping up this morning.
I recommend you tighten the stop on the long position in Direxion Daily Gold Miners Bear 3X Shrs (DUST), per the above recommendation. Raise your stop from $26.22 stop, $25.29 limit, good till cancelled … to $35.18 stop, $34.48 limit, good till cancelled.
This morning my systems are flashing sell signals for natural gas. Although this service is primarily dedicated to gold and silver, from time to time it behooves you to take advantage of special situations.
By doing this, you will get more diversification, more trading opportunities, and you can be more active in the markets in general when gold and silver are not offering up aggressive trades.
Right now, natural gas, for instance, is on the verge of a breakdown.
I recommend a light position of 100 shares in Velocity Shares 3x Inverse Natural Gas ETN, symbol DGAZ, using the above referenced stop.
Go ahead and adjust your stop for DUST and buy shares in DGAZ as soon as possible.
Stay tuned and best wishes,
Larry
