Providing a sneak peak at my ETF Research Trading Analysis. Compare it to the last few days where 2 out of the 3 days I gave a sneak peak as we have had some great trades. The only day I didn’t post it we got 34% out of JDST in one day and are still long, but with stops. For those who have not signed up for the 2 week trial, you can do so here: https://buygoldandsilversafely.com/etf-research-trading-service/
GOLD MINING RELATED ANALYSIS
We got the move higher in gold early on, but alas, it was a small dead cat bounce and DSLV, JDST and DUST were again the stars. NUGT, GDXJ, and JNUG all hit 52 week lows and traders in them are feeling the pain. JNUG at some point will rebound and please keep an eye on it for a higher high trade. I want to point something out. JDST you would think with JNUG hitting 52 week lows would be hitting 52 week highs. Since we are at the lows of Nov. 5th of last year, you would think JDST would be trading around the same price it was back then. But it’s not even close as it was trading at the 37 range in Nov. of 2014. The good news though is JDST has doubled in price the last month and we caught some of that move. I would keep tighter stops at this point. I see the dollar is close to breaking below 97 on the index and gold should bounce now. Let the dollar guide you. Gold will catch up to what it is doing. At a minimum keep your stop at the low of the day today.
CHINA
If you went long YANG at 79.61 you are down 24 cents. Keep the stop at 79, a little higher than normal, but know China is a mess. Still looking for a break of 82.87.
ENERGY
DWTI is doing exactly what we want it to. It’s up 3.1% more at 115 after hitting a high of 117.63. Move stops up to 111. As I said yesterday we are hoping for 160 eventually but resistance at the 133 level first.
ERY got us 8 cents but was up higher on the day over 25 before closing at 24.64. Move stops to 24.05.
UGAZ moved up to 2.39 before crashing and taking out the 2.15 stop. Yesterday I said it wasn’t looking strong. Still green on the weekly so a buy of the dip may work out but I would look at a play on DGAZ over 5.62 tomorrow.
INDEXES
TQQQ fell more but still green on the monthly. Would only be a buyer at a break of 124.38.
SVXY would have been good for a 40 cents scalp at the open and that’s it as it crashed with the market. UVXY may trigger if it can get past 28.14 tomorrow and I would be a buyer. But buying the dip on SVXY still is the play.
FAS moved up to 35.72 early and then fell with the overall market. You may have locked in profit or the stop was hit at 34.76. Still green and in buy the dip mode. I did put FAZ as a one to watch though and would be a buyer if it moves over 10.46 tomorrow.
RUSS turning into a good play again. Got us 1.74 more points or 4.94%. Move stop to 36.15 and lock in nice profit no matter what now. Needs to break 37.29 but is down 52 cents after hours.
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About Doug EberhardtDoug Eberhardt is a 28 year financial services veteran and precious metals broker selling gold and silver at 1% over wholesale cost. Doug has written a book to help investors understand how gold and silver fit into a diversified portfolio, how to buy gold and silver, and what metals to buy. The book; “Buy Gold and Silver Safely” is available by clicking here Contact phone number for Buy Gold and Silver Safely is 888-604-6534
Disclosure:
Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with capital you can’t afford to lose. This is neither a solicitation nor an offer to Purchase/Sell futures or options. No representation is being made that any account will or is likely to achieve gains or losses similar to those discussed in this outlook. The past track record of any trading system or methodology is not necessarily indicative of future results.
All trades, patterns, charts, systems, etc. discussed in this outlook and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author.