Gold and silver continued south again today. Dollar was down early and recovered. Keep your eye on the dollar for gold’s next move.
Today’s market was all about what Draghi said as that’s how markets should be traded this day and age, not by what the data says. It’s simply that type of game that one must play and understand if they are going to trade markets.
Listen to what veteran NYSE floor trader Art Cashin had to say today; Cashin: ‘Santa Claus’ rally will be cut in half
and this article; Data be damned, Wall Street says all is well
Below you will find what I do for those that are members of my ETF Leveraged Daily Trading Service. If you have an IRA or non-IRA money that you would like to make more profit on, and can make trades during the morning hours, or are retired and have more freedom to make trades that can help your nest egg grow, the following is just part of what I represent in my new book as a better way to take control of your wealth.
We offer swing trades where DGAZ for example got us over 30% the last few weeks and many other day trades give us profit each day like you see from the commentary below. It’s up to you how you want to trade, but I think there is something for everyone.
You can learn more about the service where in 2 weeks I have moved to #1 for ETF subscriptions on Seeking Alpha by going here: http://seekingalpha.com/account/research/login_and_subscribe?slug=doug-eberhardt
These were my live comments throughout the day today where we took profit from 1 trade in JDST, 2 trades in JNUG, 1 trade in RUSL and some smaller profits in YINN, UWTI and GASL.
Doug Eberhardt, Contributor
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
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.