23.7 Percent Gains Banked on JJC! Stay Short the Euro. Buy EPV and Adjust Your Order For PPLT Now.
Last month, you should have banked gains of up to 23.7 percent on your position in iPath Bloomberg Copper Subindex Total Return ETN (JJC). As noted last month, I’m expecting a pullback in copper, so locking in gains is a smart move in my book.
Now, my new recommendation: ProShares UltraShort FTSE Euro (EPV).
Europe’s equity markets have been on an impressive run higher despite all the political uncertainty surrounding the upcoming elections, which could ultimately determine the European Union’s survival. Plus, my models tell me that Europe’s equity markets are topping and way overdue for a correction, a sharp correction.
So, go ahead and place an order to buy EPV at $49 or better:
Place a standing good-till-canceled order using 5 percent of your funds allocated to The Speculator section, and buy ProShares UltraShort FTSE Euro, symbol EPV, at $49 or better. When filled, place a good-till-cancelled protective sell-stop at $44.35.
Meanwhile, I recommend …
Holding your shares in ProShares UltraShort Euro, symbol EUO, and maintaining a good-till-canceled protective sell-stop at $20.86. You have a modest 14.8 percent gain on the position.
The euro rallied against the dollar for the first five weeks of the year, but it stalled out around the 1.08 level and has failed to rally through any major levels of resistance. I expect the euro to head lower from here.
If not on board, you may purchase EUO at the market now using 5 percent of the funds you have allocated to The Speculator section. Place a good-till-canceled protective sell-stop at $20.86.
Next, I recommend adjusting your order to buy ETFS Physical Platinum Shares (PPLT).
Platinum prices and shares of PPLT are starting to pull back a bit, but I don’t think they will fall far enough to get back down to my original recommended price of $90 on PPLT.
So, here’s what to do …
CANCEL AND REPLACE your existing good-till-canceled order, using 5 percent of your funds allocated to The Speculator section, to buy ETFS Physical Platinum Shares, symbol PPLT, at $90 or better. NEW PRICE: $92 or better. When filled, place a good-till-canceled protective sell-stop at $81.07.
