Issue #183
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For all members who own the following positions: 1. UGLD: SELL YOUR REMAINING VelocityShares 3X Long Gold ETN, symbol UGLD, at the market. Simultaneously cancel your protective sell stop at $11.82, stop. 2. NUGT: SELL YOUR REMAINING Direxion Gold Miners Bull 3X ETF shares, symbol NUGT, at the market. Simultaneously cancel your protective sell stop at $11.85. ALL SUBSCRIBERS: 3. BUY 200 shares of the Direxion Daily S&P 500 Bear 3X ETF, symbol SPXS, at the market. Place a protective sell stop at $19.39, good till cancelled. |
Dear Member,
Gold has continued to press higher, giving you a nice round of additional gains on your long positions.
Nevertheless, as outlined in my Real Wealth Report flash alert this morning, gold has NOT entered a new bull market, and instead, should find formidable resistance at the $1,300 level, where it is now trading.
Therefore, the prudent thing to do now is to take your remaining profits off the table, which range as high as 88.49% for NUGT, based on yesterday’s close.
In addition, the stock market should be nearing a failure point, with another leg to the downside imminent. As you can see from the chart here, the Dow Industrials face very stiff resistance at the 17,550 and 17,800 levels.
I therefore recommend that ALL subscribers purchase the Direxion triple-leveraged inverse ETF on the S&P 500, per the above details.
Meanwhile, hold your shares in Kinross Gold (KGC) and Eldorado Gold (EGO), both of which are also in the green. Maintain your protective sell stops, good till canceled at $2.45 and $5.50, respectively, for now …
But be alert, I may opt to take these positions off the table soon and add bearish positions on gold and silver.
Best wishes, and stay tuned …
Larry
