Issue #196
Dear Member,
Gold shares reversed course yesterday even as the price of gold continued to slide. You still have open gains of 45.5 percent on your remaining Direxion Daily Junior Gold Miners Bear 3X ETF (JDST) position. I recommend you grab the gains on your remaining shares. This is on top of the 60.8 percent gain on the first half of the position, which I recommended you sell on Tuesday.
I think gold shares might have a decent bounce from here as they now appear extremely oversold. So, I also recommend you buy 100 shares of Direxion Daily Junior Gold Miners Bull 3X ETF (JNUG) and 200 shares of Direxion Daily Gold Miners Bull 3X (NUGT) at the market. And don’t forget to place your protective sell stops on these two trades.
Here are the details:
|
For all members who own shares in JDST: 1. SELL ALL of your remaining shares in Direxion Daily Junior Gold Miners Bear 3x ETF, symbol JDST, at the market. 2. CANCEL your protective sell stop for ALL of your JDST shares at $11.20. NEW TRADES: For all members, for each $25,000 in equity you are trading: 3. Buy 100 shares of Direxion Daily Junior Gold Miners Bull 3X ETF, symbol JNUG, at the market, and place a protective sell stop at $12.75 stop, good till cancelled. 4. Buy 200 shares of Direxion Daily Gold Miners Bull 3x, symbol NUGT, at the market, and place a protective sell stop at $7.75 stop, good till cancelled. |
Hold all other positions, with their related stops.
Best wishes and stay tuned!
Larry
