I’ll cut to the chase: Gold and silver are down hard this morning on two concerns: First, a Fed rate hike in December and second, that Brexit in the U.K. may not go forward as Parliament has ruled it must also approve the exit.
As far as I’m concerned, these are just excuses to cause a pullback. The AI models remain firmly positive. This pullback, however, is giving you a great opportunity to get back into the positions I recommended you exit yesterday, with gains.
More specifically, I recommend buying back the shares you sold in UGL and in AGQ. I also recommend buying shares in AK Steel, a terrific steel company that’s on the mend, just announcing its best quarterly results in eight years!
I’ll give the full details on the steel company in the next day or two. Suffice it to say it’s a company you want in your portfolio.
Here are the details for today’s recommendations:
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For ALL Members: 1. Using 2.5% of your trading funds, buy shares in ProShares Ultra Gold, symbol UGL, at $43.00 or better. Place a good-till-canceled protective sell stop for your entire position at $40.33 now, cancelling the stop for half your shares at $37.25. 2. Using 2.5% of your trading funds, buy shares in ProShares Ultra Silver, symbol AGQ, at $43.00 or better. Place a good-till-canceled protective sell stop for your entire position at $39.02 now, cancelling the stop for half your shares at $36.15. 3. Using 3% of your trading funds, buy shares in AK Steel Holdings, symbol AKS, at $5.50 or better. Place a good-till-canceled protective sell stop for all your shares at $3.80. |
Note: I will tighten that stop up to reduce risk, as soon as possible.
Go ahead and get these orders in asap and stay tuned.
Best wishes,
Larry
