Gold is bouncing higher today, cracking through the $1,260 level, as the selling pressure seen last week is now subsiding. Gold and silver are in the process of finding a bottom here. And while we can’t completely rule out the possibility of lower precious metals prices in the short-term, there’s enough uncertainty in the markets to warrant higher gold and silver prices soon. The models are also now pointing for a rally in gold over the next few weeks. Ditto for Silver. So it’s time to go long gold and silver. See my trading instructions below.
At the same time stocks are starting to rollover again, and the Dow Jones Industrial Average just broke below the 18,000 level. We already have a short position in Direxion Daily S&P 500 Bear 3x ETF (SPXS). But I think it’s time to add more exposure to the downside. Instructions below.
Now, to take advantage of the metals next move higher I recommend buying shares in Proshares Ultra Gold (UGL) and ProShares Ultra Silver (AGQ), both a double-leveraged long position. Then, I recommend buying shares in ProShares UltraShort Dow 30 (DXD), a double-leveraged short position, to take advantage of the Dow’s move lower.
Here’s what to do:
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For ALL Members:
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Go ahead and get these orders in asap and stay tuned!
Best wishes,
Larry
