Issue #81
| Recommendation:
Per every $25,000 in equity you are trading: Cancel and replace your order to buy 50 shares of VelocityShares 3X Inverse Gold ETN, symbol DGLD, at $78.25 or better. NEW PRICE: $80 or better. When filled, place a protective order to sell 50 shares of VelocityShares 3X Inverse Gold ETN, symbol DGLD, at $68.99 STOP. This order is good till cancelled. |
Dear Member,
Gold should bounce a tad after its whipping yesterday. Nevertheless, my models are resolutely bearish gold and silver.
I recommend raising the bid on yesterday’s recommendation to buy DGLD. Raise it from $78.25 to $80. If filled, be sure to enter your protective sell stop above.
Also, as noted in yesterday’s issue, a close in gold today below $1,232 (currently trading at $1,227 at 5:25 am EST) should prove to be very bearish for the metal heading into next week. In silver, a close today below $19.51 (currently $19.55) should prove to be exceptionally bearish.
Stay tuned,
Larry
