Gold and silver have enjoyed a sizable rally since the December low. Mining stocks have performed even better. But now it appears to me this rally is about to pause temporarily.
So, I think it makes sense to grab gains on your remaining shares of ProShares Ultra Gold, symbol UGL, originally recommended January 26 – which is sitting solidly into profit territory. Based on yesterday’s close, you should bag open gains of up to 8.2% on your remaining shares.
Ditto for your position in VelocityShares 3x Long Silver ETN, symbol USLV, originally recommended January 26. Now is the time to target gains of up to 22.5% on your shares.
Now, onto my new recommendation:
Gold and silver mining stocks have rallied 32% higher in just the past two months. I expect this is just the beginning of a major move higher for gold and silver stocks, BUT they are due for a brief correction first.
I expect this is a pullback we can profit from by purchasing the Direxion Daily Gold Miners Index Bear 3X Shares, symbol DUST, to take advantage of this correction.
Here’s what I recommend:
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For ALL Members who own UGL and USLV: 1. Place an order to sell ALL of your shares of ProShares Ultra Gold, symbol UGL, at the market. 2. Place an order to sell ALL of your shares of VelocityShares 3x Long Silver ETN, symbol USLV, at the market. Be sure to cancel your outstanding good-till-canceled stop orders. For ALL Members: Using 5% of the funds you have allocated to this trading service, buy Direxion Daily Gold Miners Index Bear 3X Shares, symbol DUST, at the market. Place a good-till-canceled protective sell-stop at $24.05. |
Go ahead and get these orders in asap and stay tuned.
Best wishes,
Larry
