Issue #112
Dear Member,
This morning you should have been able to purchase your shares in the Velocity Shares 3X Long Gold ETN (UGLD), when UGLD opened at roughly $16.55. Make sure you have also placed a protective sell order for UGLD, at $14.50, STOP, good till cancelled.
On Friday, you should have been able to exit your shares in the PowerShares DB Gold Double Short ETN (DZZ).
Right now, the action in gold and silver is critical. It appears that the selloff should find support at current levels, around $1,318 in gold and $20 in silver. If so, we should soon see a good rally.
It’s do or die time for the metals. The action today and tomorrow will be very critical in determining whether or not the rally that began last December sticks, or whether it was just another big, bear market bounce.
I am watching the markets like a hawk, so stay tuned.
Continue to hold your GLD put options. I want you to keep this position on as a hedge or to straddle the market at this time, since the juncture the metals are at right now is so critical.
I repeat, stay tuned!
Best wishes,
Larry
Position Tracker
Click here, or on the image below, to view our position tracker in .pdf format.
