| Recommendations:For every $25,000 in total equity that you are trading…1. BUY 100 shares of ProShares Ultra Gold, symbol UGL, at $51.50 or better, to open. This order is good-till-cancelled. When filled, place a good-till-cancelled protective sell stop at $50.92.Also …
2. BUY 100 shares of ProShares Ultra Silver, symbol AGQ, at $19.44 or better, to open. This order is good-till-cancelled. When filled, place a good-till-cancelled protective sell stop at $18.96. |
Issue #23
Dear Member,
Important update: My system is flashing breakout alerts in the above leveraged ETFs for gold and silver. Although on the intermediate-term models the trends remain down for the precious metals, there is no question that gold and silver can move higher in the short-term and test the $1,400 level in gold and the $22.00 to $23.00 level in silver.
The above recommendations allow for the market to pull back a bit. Reason: The ETFs opened sharply higher this morning, creating a gap on the charts. We want to see at least some of that gap filled with at least a partial pullback, which would be normal and should come later today or tomorrow.
I recommend 100 shares in each, per every $25,000 in total equity that you are trading. Make sure you use the protective sell stops I’ve given you above to reduce risk.
Best wishes,
Larry
