Trade Alert
Silver bounced off of its uptrend line, and is at a decent support level, with additional support from a weak USD. It is possible we are still a bit early here, but we are going to re-enter our USLV trade. Bought 20% at $9.60. Bought 20% USLV @ $9.60 Stop @ $ 8.98 Target @ $12.90
Trade Alert
Last week, we decided to exit JNUG even though it didn’t hit our stop. Our hope was that we would have an opportunity to re-enter the same trade at a lower price. The strength in the USD gave us an opportunity to purchase our position back at a lower price, so today we purchased our 20% position back at $13.54. We believe that the Intermediate Cycle low is very close in gold, but it might … read more Trade Alert
Trade Update
In trading there are always things you can’t foresee, sometimes these things are a big deal, sometimes insignificant, sometimes they go in your favor, sometimes they don’t. On Friday afternoon Trump implemented a 25% tariff on $50 billion worth of goods from China. The market, for the most part, was able to shrug that off. But following up right after the next trading session on Monday, he demanded another $200 billion worth of goods be … read more Trade Update
Trade Alert
We are going to take another shot at the metals here. After being the sector leader, Silver is right at its 50 DMA. We purchased 20% USLV. Our stop is if silver breaks below its uptrend line. Bought 20% USLV @ $10.01 Stop @ $9.49 Target @ $12.48
Trade Alert
Bought 30% size UDOW at $92.30. Stop @ $88.40 Target @ $112.50 The Dow has pulled back the past few days. We suspect it will find support here at the 20-day Moving Average.
Trade Alert
We were stopped out of UGLD this morning at $10.24. Gold made an explosive move lower, despite supporting indicators, which leads us to believe that it may be headed to a lower daily cycle low before beginning the ICL. We’re going to exit JNUG here as well, despite being well above our stop level. We’ll reevaluate over the weekend. Sold UGLD @ $10.24 Sold JNUG @ $13.75
Trade Alert
This morning, the European Central Bank voted to keep interest rates unchanged at zero. That is causing some strength in the Dollar, which is a headwind for gold. Still, Gold is now above its 20 DMA, which has finally turned upward, so we are going to take a 20% position in UGLD at $10.61. With the currencies moving against us today, we aren’t willing to take too much risk on this one. Our stop will … read more Trade Alert
Trade Alert
Bought 20% size JNUG @ $14.23. GDXJ climbed back above its 50-DMA and we are in the timing band for a turn. Even if the low is in, there could be some sideways churning here as traders wait to see what the Fed will do at it’s next scheduled meeting on June 12-13. Stop @ $13.35 Target @ $16.15
Trade Alert
Stopped out of UDOW at $84.95. Looked like markets would find support this morning after an initial drop, and they did briefly, but a big selloff in the banking sector really accelerated things in the Dow. Banks are dropping because of the prospect of lower yields than expected this year. Of course, as that happens, our TMF continued to shoot up and hit our target price ($19.70), for a nice win. Italy is causing all … read more Trade Alert
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