No time to waste. FIRST, your shares in AK Steel (AKS) are now up 46.5%, with the share price trading at $8.06 as I pen this issue.
Recommendation: Grab gains on half the position and raise your stop on the remaining shares. Details in a minute.
SECOND, gold has a found a bottom. It may only be a short-term bottom, or, we may be back on track for December highs. It’s still too soon to say, but I think the risk/reward profile is worth getting back into UGL. UGL can rally to the $40 to $44 level quite easily from its current $38 price.
As to silver, the picture is not as clear yet.
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For ALL Members: 1. SELL HALF your shares in AK Steel (AKS) at the market. Then cancel and replace your good-till-cancelled protective sell stop at $3.80: NEW STOP PRICE: $7.03. NEW QUANTITY: The remaining half of your holdings in AKS. 2. Using 3% of your funds, buy shares in ProShares Ultra Gold, symbol UGL, at the market., Place a good-till-cancelled protective sell stop at $36.03. |
Go ahead and get these orders in and stay tuned!
Best wishes, as always …
Larry
