Issue #191
Dear Member,
Gold mining shares have pulled-back; stopping you out of your Kinross Gold Corp. (KGC) position last week. I believe gold stocks still have more downside, so I recommend you purchase 300 shares of Direxion Daily Junior Gold Miners Bear 3X ETF (JDST), details below.
At the same time, the Japanese yen appears ready for a rally against the dollar. The Japanese yen has been dropping against the dollar since the Bank of Japan’s (BOJ) last quantitative easing attempt.
But now, it looks like the BOJ will try to set in motion policies that will strengthen their currency, at least in the short-term. So I also recommend you purchase 200 shares of ProShares Ultra Yen (YCL). Details also below.
Unfortunately, oil prices did not pull back like I thought. As a result, you were stopped out of your inverse oil ETF last week. I believe oil and oil stocks are both overbought and I don’t expect this bounce to last much longer. Once it plays itself out, oil prices will head lower, much lower, again.
The U.S. equity markets also continued higher last week, stopping you out of your inverse ETF on the S&P 500. The tech sector has been leading the market higher, but I still believe a top is forming. Wait for my signals for your next move in the U.S. equity markets as well as my next play in oil.
Now …
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NEW TRADES: For all members, for each $25,000 in equity you are trading: 1. BUY 200 shares of ProShares Ultra Yen, symbol YCL, at the market. Place a protective sell stop at $13.75 stop, good till cancelled. 2. BUY 300 shares of Direxion Daily Junior Gold Miners Index Bear 3X ETF, symbol JDST, at the market. Place a protective sell stop at $7.50 stop, good till cancelled. |
Best wishes,
Larry
