Below is what I posted on the metals for the subscribers to my ETF Trading Leverage Service last night.
GOLD MINING RELATED ANALYSIS
DUST and JDST we have stayed long and strong and were rewarded big time on Friday. I said before Friday’s report everything that seemed to come true; “it’s all in the hands of one report tomorrow. I expect it to be a good one. For whatever reason I feel like Dan Ackroyd and Eddie Murphy in Trading Places waiting for the Orange Juice report where they already knew the answers. What can stop this market from overall moving higher? Not the negative data. What a great time I feel to have an unemployment report that confirms Steve Liesman’s faith in the Fed that “all is well!” Like one data piece of positive info that is skewed to begin with can cause the Fed to raise rates. It probably will. As far as CNBC’s concerned, it’s a given.”
As I said above, we are at a big resistance level and I wouldn’t be surprised to see gold move higher and take JNUG and NUGT with it. I would buy that dip in JDST and DUST if it does come. You’ll kind of know from Asian and European trading what is happening with gold and the dollar so trade accordingly come Monday.
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.