Gold had a blip up this morning and if you were following along with my DUST trade you will know I took 75% of it off yesterday for about a 15% profit and the rest early this morning for a little over 12% profit. Not bad for 2 days work. I did not put that trade back on but I do expect the markets to start to pullback in general soon and this can take gold and the miners with it. Watch the dollar over 97.20 for a signal.
Not much else to say on precious metals. If dollar does go under 97 though, JNUG/NUGT over JDST/DUST would be the call with stops. I think we are consolidating and waiting for the dollar to tell us what’s next.
I wrote this to someone today, to give you a little bit more about my background and my intentions in what I write about precious metals and the markets/economy.
About me: Graduated college marketing degree, 3.87 GPA, deans list. Started in the insurance business after college and learned it first as a basis, then got into the investment side when they started to offer mutual funds. Did that for 10 years and then went on my own. Became a Certified Specialist in Planned Giving as that was the niche I wanted to help those with wealth, plan how to make a difference in the world. 1999 is when I first started getting into trading, mostly as a day trader, scalping 1/16, 1/8 and 1/4 points with an average of 100 trades a day. I was working on my CFP and decided I prefer, in 2002 after reading Richard Russell and being a part of his bulletin board where I got opinions from people all over the world on gold, markets, economics (first introduction to Austrian Economics) and decided I wanted to become the expert on gold. I bought all the CFP books and paid for the entire course as well as being accepted into their masters program at the College for Financial Planning as that is what our industry wanted financial advisors to become. But when I got the CFP books and read the book on investing, and what the author wrote about gold (I describe all this in my first book Buy Gold and Silver Safely btw), I couldn’t believe how incomplete it was. I decided to write my own book on gold by 2006 and set out to do so. I found out right away I wanted to take on a bigger picture project (explained in a moment) and spent 2006-2010 working on researching that. Gold started to move higher and worked on the gold book and Sept. 2010 I released it and started my gold dealer business that sold only bullion products, not the high commissioned stuff you hear Glenn Beck pushing on investors. 2013 I started work on what I saw as issues, not just in our economy, but with government, the Federal Reserves, our monetary and banking systems and the advice peddled by most financial advisors. That book is coming out Monday and I’ll let the reader decide how good it is through the star system on Amazon.com (last book got 4.2 stars). I had already started a trading service on my site and on Seeking Alpha where you can read the reviews here: http://tinyurl.com/z6b… I stopped that service, and the income it was providing, so I could concentrate on finishing the Illusions book and this next two books (see below) but will be starting it up again soon. It will have a 2 week free trial and if you think there is a hidden agenda with it, then you don’t have to subscribe. But hey, I’m pretty good at what I do as the testimonials show.Now I am finishing up the book We the Serfs! which was the research I alluded to earlier, and addressing all of the issues that divide us as a nation, and that will be out before the election. The good Lord blessed me with the type of politics we are seeing today and the continued dividing of America and this book, along with a tag along book called You Can Make A Difference, will offer awareness of the unsustainable path we are on and the issues that divide us and offer solutions on how we can erm, make America great again (not an endorsement of Donald J. Trump, but his shaking things up, including the media makes this books timing absolutely perfect). A choice of Left or Right at this point is another illusion as we all know problems don’t get solved with how our current system works.I will be updating my gold book next to make it current. After that I will be working on a 5th book that is fictional and full of conspiracy theories called The Last American Patriots. It will basically tell America that if you don’t do what the first 4 books say to do, this is what will happen. I am going to have a blast making this one and I already have a screenwriter interested in it.
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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.