The ETF Research Analysis is up 16% the last 2 weeks. We have calculated for those new to the ETF Research Analysis what the buy signals and sell signals have been the last 2 weeks and we are up 16% as of the close of business today with 12 winning trades and 2 losing trades. Meanwhile the DOW is down 3%, the S&P down 1.52% and the NASDAQ down .63% during the same time-frame. Who says you can’t time the markets?
We also had some scalps and other trades that triggered long like UVXY and FAZ that I haven’t included in the the last 2 trading days that were up where you could have scalped some of this.
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Who am I to give my thoughts on trading ETFs?
I had been giving out free calls for 7 months on my Current Thoughts section for free (all data there) prior to beginning the ETF service 3 months ago. That’s 10 full months of making good calls. Many calls have gone up 10% and some 50% in a short amount of time.
My background is as a financial advisor beginning in 1986 before starting my precious metals company in 2010. You may have noticed from my writings that I am the only one who sells gold in America that has called for lower prices. I simply share what I think will occur based on my own analysis and I am good at it.
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Notes for the day and last 2 weeks: It was a pretty volatile day where market makers tried to shake many out of their trades. This is where the monthly green signals keep you at a looser stop than normal, but I technically don’t mind this because it forces you to lock in profit. One must learn to separate greed from the business of making money. We are in this to make money consistently.
Note: Fed Meeting Tuesday and Wednesday and the markets could be volatile.
GOLD MINING RELATED ANALYSIS
The dollar finally did break below 97 on the index, but the miners and gold are now lagging gold a bit. They tried to stage a rally but the bears took over. DUST is acting a little weak and my trigger a sell if we open red tomorrow. JDST we already stopped out of and DSLV may trigger red tomorrow too if we do get a push higher in metals with the dollar breaking down a bit. While the dollar and gold don’t always trade inverse to each other, gold should catch up to the dollar weakness given enough time. I said yesterday that these miners were “too tough to call at this point so let the price action dictate your trade or look for something that has a clearer signal.” One could have scalped the higher high in any of these today and made a little profit but I wouldn’t marry any of them just yet. I lean long the JNUG, USLV, GDXJ, NUGT, GDX overall unless we open lower and break to new lows. If that were to occur I would continue to trade the trend with JDST, DUST and DSLV. But those 3 are breaking down a bit with the volatility they experienced today.
CHINA
What can I say about our friend YANG? It got us 11.78% more today or 9.72 points. Some may want to take some profit on a move like this. At a minimum move stops from 80.19 to 90.07 locking in 11 points since last Wednesday. YANG may be on its way to test the 105.90 mark from July and we’ll just have to see how much China capitulates.
ENERGY
DWTI got us 7.19% more or 8.48 points to close at 126.42, near the high of the day. Move stops up to 120.38 or higher if you are conservative. Still want to see that 133 resistance level obtained and we are only 7 points from it. We could get a pullback from there. I do however keep 160 as a longer term goal.
ERY got us 1.07 more points. I would move stop to 26.28.
UGAZ and DGAZ still don’t have a clear trend and are difficult to play right now.
INDEXES
TQQQ would only be a buyer at a break of 117.39 but closed much lower at 114.93 and we have been out of it.
Said to scalp UVXY on a move past 29.88 and it opened at 31.39 and hit a high of 33.47. You may have got some of it. It has NOT triggered long on the weekly yet, but we are trying to get something out of it.
FAZ was an entry at 10.46 yesterday and moved up to 10.80 today. Move stop to 10.72.
RUSS got us 7.95% more or 3.05 points. Move stop from 37.58 to 40.52 and lock in even more nice profit no matter what now. It did break 39.70 and we are now looking to try and get to the next resistance at 45.72.
INTEREST RATES
TLT got us .65 more points and move stop to 121.48.
(Click to enlarge)
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Doug 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.