Issue #175
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1. If you own shares of Direxion Daily Junior Gold Miners Bull 3X ETF, symbol JNUG, cancel your existing sell stop at $1.30 and replace your protective sell stop at $4.40 stop, good till cancelled. 2. If you own shares of Market Vectors Gold Miners ETF, symbol GDX, cancel your existing sell stop at $13.48 and replace your protective sell stop at $18.60 stop, good till cancelled. |
Dear Member,
Both the Direxion Daily Junior Gold Miners Bull 3X ETF (JNUG) and Market Vectors Gold Miners ETF (GDX) have risen substantially since I recommended purchasing these shares. You are currently sitting on double digit gains in each. Now it’s time to raise your protective stops. I recommend raising your protective sell stop for JNUG from $1.30 to $4.40 and for GDX from $13.48 to $18.60, both, good till cancelled.
The U.S. markets continue to make new highs. The markets have had an impressive run coming off the October low. But I am still expecting a pullback as they look extremely over bought at this time.
Your two inverse equity ETFs are under water, but I expect the Russell 2000 Index and the NASDAQ-100 Index will be heading lower soon, so continue to hold.
Your position on natural gas, UNG, is still in good shape. The winter weather is just starting to get more active and that usually means higher natural gas prices, so continue to hold.
ENSV is sitting at support levels around $2.08. Continue to hold and I will let you know what to do.
Stay tuned and best wishes,
Larry
