Issue #199
Dear Member,
Gold and gold shares are spiking higher this morning after Saudi Arabia’s overnight air strike on Yemen, handing you open gains of 23.8 percent in your Direxion Daily Junior Gold Miners Bull 3x ETF (JNUG) position and 18 percent in your Direxion Daily Gold Miners Bull 3x ETF (NUGT) position.
Since gold has approached the first level of resistance that I told you about, I now recommend grabbing gains on half of your shares and at the same time raising your stops on the remaining shares of JNUG and NUGT to $20.45 and $10.89, respectively.
Oil prices are also spiking higher today on the news in the Persian Gulf.
So, I also think now is a good time to raise your stop on your position in ProShares Ultra Bloomberg Crude Oil (UCO) to $6.25.
Here are the details:
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For all members who own shares in JNUG, NUGT and UCO: 1. SELL HALF of your Direxion Daily Junior Gold Miners Bull 3x ETF, symbol JNUG, at the market. 2. Cancel and replace your protective sell stop for ALL of your JNUG shares at $16.49. NEW ORDER: Place a protective stop on your remaining shares at $20.45 STOP, good till cancelled. 3. SELL HALF of your Direxion Daily Gold Miners Bull 3x ETF, symbol NUGT, at the market. 4. Cancel and replace your protective sell stop for ALL of your NUGT shares at $10.32. NEW ORDER: Place a protective stop on your remaining shares at $10.89 STOP, good till cancelled. 5. CANCEL and REPLACE your good-till-cancelled protective order to sell 200 shares of ProShares Ultra Bloomberg Crude Oil, Symbol UCO at $5.00 stop. NEW PRICE: $6.25, STOP, good till cancelled. |
Best wishes and stay tuned!
Larry
