In a special Flash Alert sent on May 3, you should have added two new positions to The Speculator section my Real Wealth Report.
First, I recommended starting a new position in ProShares UltraShort Euro, symbol EUO. The results of the French presidential elections went as expected, with Emmanuel Macron winning by a large margin.
On the news of Macron’s victory, the euro immediately sold off as the dollar strengthened. It was a classic sell-the-news reaction. I expect more downward pressure on the euro — so continue to hold.
If not on board, you may purchase EUO at the market using 10 percent of the funds you have allocated to The Speculator section.
Second, I recommended starting a new position in ProShares Short QQQ, symbol PSQ. U.S. stocks remain extremely overextended. And they are long overdue for a sharp correction.
The fact is, just five stocks are driving almost a third of the returns of the market. That means that most stocks are not performing as well as the indices might suggest. And as I mentioned in the Flash Alert, there are dozens of catalysts that could trigger the next selloff. So continue to hold.
If not on board, you may purchase PSQ at the market using 10 percent of the funds you have allocated to The Speculator section.
And rest assured, my team and I will be monitoring stops for you on both EUO and PSQ.
Meanwhile, continue to hold your position in …
ETFS Physical Platinum Shares, symbol PPLT. Hold, and maintain a good-till-canceled protective sell-stop at $81.07.
Since we entered the PPLT position, the price of platinum has drifted lower along with the rest of the precious metals. It’s still possible that we could see some further weakness in platinum heading into the later part of this month and into early June.
But the AI cycle-forecast models are still showing platinum heading higher into the summer months, so be patient and continue to hold.
If not on board, you may purchase PPLT at the market now using 5 percent of the funds you have allocated to The Speculator section. Place a good-till-canceled protective sell-stop at $81.07.
