Issue #168
Dear Member,
The U.S. markets rallied again yesterday stopping you out of your remaining shares of iPath S&P 500 VIX Short-Term Futures ETN (VXX). I recommended that you raise the stop price on your remaining shares last week, so you should have locked in some nice gains of 13% on top of the 22% from the first half of your position.
You also were stopped out of your shares of Direxion Daily S&P 500 Bear 3X ETF (SPXS) last week, leaving you with a gain of 9% on those shares.
The market’s rallying higher after such a steep selloff is not surprising. I will look to recommend new positions on inverse ETFs as soon as this market rally begins to lose some steam. I believe this is only a temporary move higher.
Stay alert: Gold looks to have one more bounce coming, and I may soon recommend grabbing gains on VelocityShares 3X Long Gold ETN (UGLD).
Hold all open positions, with their related stops, and stay tuned.
Best wishes,
Larry
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