WOW! Britain did what I wanted them to do, but wasn’t sure they could muster up the vote: They split from the European Union. They are going their own way.
This is huge negative news for the European Union. Like dominoes falling, we’re already hearing calls for a Frexit (French exit) and more.
It will take some time for the dust to settle and to assess the market implications. Right now, the vote is sending gold into a cycle inversion, meaning we’re getting a high on this upcoming cycle turn date, rather than a low. For now, hold your gold positions until the dust settles.
Also hold all other positions EXCEPT the recently recommended July 2016 CurrencyShares British Pound Sterling ETF (FXB) put options, with a strike price of 144.00 – which you should have been able to purchase yesterday at $3.10 or better, and where this morning the last trade showing is at 10.40, giving you a very healthy 235% gain.
I recommend you bag that gain now, per the below instructions:
| I want to SELL, to CLOSE, all of my July 2016 CurrencyShares British Pound Sterling ETF (FXB) put options, with a strike price of 144.00, symbol FXB160715P00144000, at the market. |
You have other positions that are benefiting this morning, mainly in the euro – I will update you later today.
Best,
Larry
