Yesterday, gold and silver started sliding almost immediately and unless you acted immediately upon receiving my issue to exit your positions in UGLD and USLV — it’s unlikely you were filled.
Gold and silver are down further this morning, proving my models are correct. So while the best news is that, though you most likely did not get out of UGLD and USLV yesterday …
… You were able to purchase the GLD put options as well as the ZSL call options, or their underlying ETFs.
Still, you don’t want to be long gold and silver here, even in a hedged position.
So I am adjusting the orders to exit UGLD and USLV below. Do NOT go to the market. It will only hammer the price, cost you money and harm your fellow members who strictly follow my recommendations.
For ALL Members:
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1. CANCEL AND REPLACE your order to SELL ALL of your shares of VelocityShares 3x Long Gold, symbol UGLD, at $12.39 or better, good till canceled. NEW PRICE: SELL AT $12.05 or better, good till canceled. When filled, cancel your protective sell stop at $10.43. 2. CANCEL AND REPLACE your order to SELL ALL of your shares of VelocityShares 3x Long Silver, symbol USLV, at $13.65 or better, good till canceled. NEW PRICE: SELL AT $12.90 or better, good till canceled. When filled, cancel your protective sell stop at $10.35. |
Hold all other positions and stay tuned …
Larry
