As we went to press last month, you should have been stopped out of your ProShares UltraShort Euro (EUO) position when it hit the recommended protective sell-stop at $22.25.
That stinks, but that is what stops are for: to limit risk.
However, there’s no doubt in my mind: The euro is toast; it’s just a matter of time.
That’s why in a Special Flash Alert sent to you on Aug. 11, I recommended that you jump right back into EUO, and your timing couldn’t be better, because the dollar has reversed higher versus the euro.
If you have not yet added back shares of EUO, here’s what to do right away …
Using 5% of your funds allocated to the Speculator section, buy the ProShares UltraShort Euro ETF, symbol EUO, at the market.
Remember, for now, I’ll monitor a mental stop for you, so as not to get picked off by the market makers.
Speaking of adding to the portfolio, you most likely have not yet been filled on my recommendation to buy the Credit Suisse X-Links Silver Shares Covered Call ETN (SLVO).
Continue working your open SLVO order, and do not chase the market. I expect silver to pull back a bit from here.
Remember, SLVO is a great way to both gain additional long exposure to silver and generate a steady flow of monthly income. So, be patient.
My recommendation:
Place a standing good-till-canceled order using 5% of your funds allocated to the Speculator section and buy the Credit Suisse X-Links Silver Shares Covered Call ETN, symbol SLVO, at $8.00 or better. When filled, place a good-till-canceled protective sell-stop at $7.15.
In the meantime, continue holding your …
ProShares Short QQQ, symbol PSQ. Hold and maintain a good-till-canceled protective sell-stop at $35.85.
We are down a bit on this position, but the markets are now entering their seasonally weakest three-month period. So, I continue to believe that the markets will experience a decent-sized corrective pullback over the next few months.
If you’re not already on board, you may purchase PSQ at the market using 10% of the funds you have allocated to The Speculator section. Place a good-till-canceled protective sell-stop at $35.85.
Shares in ETFS Physical Platinum Shares, symbol PPLT. Hold and maintain a good-till-canceled protective sell-stop at $81.07.
If you’re not yet on board, you may purchase PPLT at the market now using 5% of the funds you have allocated to The Speculator section. Place a good-till-canceled protective sell-stop at $81.07.
