Issue #75
| Recommendation: For every $25,000 in equity you are trading …
Buy 400 shares of the PowerShares DB Gold Double Short ETN, symbol DZZ, at $7.40 or better. When filled, place a protective order to sell 400 shares of PowerShares DB Gold Double Short ETN, symbol DZZ, at $5.52 STOP. This order is good till cancelled. |
Dear Member,
I’m on the Weiss Money and Markets cruise, and we just docked in Key West, Florida this morning. Not to worry, I have been monitoring the markets closely all week while at sea.
Gold has now solidly broken the key support level at $1,262, strongly suggesting the yellow metal should move lower into the January cycle low turning point.
Therefore, I recommend that all subscribers immediately act on the above recommendation to buy the PowerShares DB Gold Double Short ETN (DZZ), an inverse or bearish position on gold.
At the same time, I recommend holding your long-term January 155 calls on the SPDR Gold Shares, symbol GLD150117C00155000, or the alternative position recommended in the underlying GLD, with a stop in place at $113.90.
Those are long-term positions and should not be misconstrued with the short-term trading, which is a bearish position I am recommending this morning.
I’ll have a more detailed update for you next week, but go ahead and act on the above new trade recommendation.
Best wishes,
Larry
