Closed out SPXS at $33.60. Just not following through the way we had hoped and the indicators have turned the past couple days. Slightly better than break-even.
The Euro is now at its down trendline, and approaching its 50DMA. Both should provide a good level of resistance, and even better when we include the timing band for a cycle low in the USD. We are buying EUO (inverse Euro ETF). Bought 40% EUO at $21.98 Stop @ $21.49 Target @ $23.49
As discussed in this weekend’s newsletter, we are expecting the USD to bounce late in the cycle here, which will put pressure on the precious metal sector. Bought 20% size of DSLV @ $23.73. Target @ $26.95 Stop @ $22.98
Sold 1/2 of YCL position at $56.63. A couple of our indicators have started to move a little differently than we’d expected. We’re just going to lighten up this trade to 1/2 size here and watch to see what happens before doing anything with the balance.
Bought 10% size of SPXS @ $33.47. Will discuss in detail this weekend. Bought 10% SPXS @ $33.47 Target @ $39.98 Stop @ $32.49
After briefly breaking below support overnight, The Yen managed to climb back above it. There is some risk here, but the reward to risk ratio is very favorable if it does bounce. Purchased 25% YCL (bullish yen ETF) at $56.24. The stop is very tight on this trade. Bought 25% YCL @ $56.24 Target @ $61.49 Stop @ $55.95
With GDX at trendline support, strength in silver, and the Dollar in the timing window for a cycle high, we purchased 20% NUGT @ $29.35. Bought 20% NUGT @ $29.35 Stop @ $28.74 Target @ $31.75
Sold EUO @ $22.48. We are in the middle of the cycle here and there is some increased risk with the Fed meeting today at 2:00, so we’ll book the win here, and reassess later.