Issue #145
Dear Member,
Though gold looks weak on the surface, it’s anything but weak. My work shows gold coiling up in a triangle, which can be very deceptive, conning most investors into thinking gold is about to plummet …
Yet when all is said and done and the triangle is completed, instead of plunging, gold explodes higher!
That’s the picture I see right now for gold. Silver is in a similar position. The chart pattern above gives you an idea of the triangle forming in gold, and my system models (not shown) show massive support for gold at current levels, but with a chance for one more decline, before gold explodes higher.
So right now, it’s a waiting game. Unfortunately, yesterday you should have been stopped out of the second attempt at establishing a low risk long position in Direxion Daily Junior Gold Miners Bull 3X Shares (JNUG), when it hit my recommended sell stop at $25.49
Not to worry. I kept the risk on JNUG very tight, perhaps too tight. But when looking to establish a long position for a big move in anything, first, you shoot bullets. Some will miss the target. But it’s part of the calibration process. Once the target comes into better focus, you put together your cannonballs, and fire away for the big profits that will come.
We shot a couple of JNUG bullets that have missed. That’s okay. The right timing and pricing is coming into better focus, and when I next pull the trigger on JNUG, I’ll be looking to muster up the cannonball. The reason: JNUG is likely headed to at least the $45 level on the next run up.
For now, hold all other positions and related protective stops and stay tuned. New recommendations can come at any minute.
Best wishes, as always …
Larry
P.S. Also keep an eye out for your soon-to-be-released members-only invitation to my next LIVE event, airing Tuesday, July 29th at 12 noon EST.
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