Trading Signals & Analysis

Trade Alert: Grab gains on remaining DWTI position, and half your UGL and AGQ positions

by Larry Edelson |

Election uncertainty and the future path of interest rates have converged with my A.I. forecast to push gold prices to a one-month high. Today, gold futures are testing key resistance at $1,300 an ounce.

This has pushed your position in ProShares Ultra Gold, symbol UGL, originally recommended October 13 – solidly into profit territory. You should be sitting on open gains of up to 6% on the first half of your position.

Let’s grab the gains on half the position, leaving the second half open for the potential for further gains.

Same for your position in ProShares Ultra Silver, symbol AGQ, originally recommended October 13. We will be targeting gains of up to 10% on the first half of your position.

Oil prices also continue to sink, leaving your remaining shares of VelocityShares 3x Inverse Crude Oil ETN, symbol DWTI, with big open gains of as much as 30%. I recommend you grab these gains, as oil is now in oversold territory on a short-term basis.

Here’s what I recommend:

For ALL Members who own UGL and AGQ:

1. Place an order to sell HALF of your shares of ProShares Ultra Gold, symbol UGL, at the market.

2. Place an order to sell HALF of your shares of ProShares Ultra Silver, symbol AGQ, at the market.

Be sure to adjust your outstanding good-till-cancelled stop orders to match the remaining shares in your account.

For ALL Members who own DWTI:

1. Place an order to sell ALL of your shares of VelocityShares 3x Inverse Crude Oil ETN, symbol DWTI, at the market. Then, cancel your outstanding stop order.

Go ahead and get these orders in asap and stay tuned.

Best wishes,

Larry