Issue #165
| For all subscribers who own shares of VXX and SPXS:
1. For ALL of your remaining shares of iPath S&P 500 VIX Short-Term Futures ETN, symbol VXX, cancel your existing sell stop at $28 and replace your protective sell stop at $35.25 stop, good till cancelled. 2. For ALL of your shares of Direxion Daily S&P 500 Bear 3X ETF, symbol SPXS, cancel your existing sell stop at $22.80 and replace your protective sell stop at $28.87 stop, good till cancelled. |
Dear Member,
The U.S. markets continue making volatile moves and that has been great for your VXX position. Now, it’s time to raise your protective sell stop to lock in some more gains. I recommend cancelling your existing stop at $28 and replacing that with a new sell stop at $35.25, good till cancelled.
Also raise your protective sell stop for SPXS from $22.80 to $28.87, good till cancelled.
Right now, the stock markets are bouncing. But that’s all it is, a bounce. I expect more declines later next week.
Meanwhile, gold is pulling back, but not much. Here, I expect another rally, kicking off in the middle of next week.
Hold all other positions, with their related stops, and stay tuned.
Best wishes,
Larry
