In yesterday’s Current Thoughts I said I like JDST and today it didn’t let us down. JDST ended up over 7% higher from yesterday’s close and anyone could have played it this morning for a nice trade. Gold moved down from the open then steadied and rose towards the close and is presently over $1,200 again. I would move stops up to 10 at this point. If gold keeps moving higher looks to JNUG for a trade but gold is still weak and I lean towards JDST still as it is green on the daily and weekly and the miner ETFs are mostly all red. Not good. Look for tomorrow’s unemployment report for a possible reversal in gold as it does move the markets. Silver was pretty weak this morning as well but is still above the $16 resistance sitting at $16.20 presently.
TNA took another hit but rebounded. Don’t ignore this if it is a short term reversal. I wouldn’t be long TNA right now but look for a higher high to trade. Let the market and the unemployment report direct you tomorrow. TZA only up 10 cents at the close.
DGAZ took a breather with UGAZ up 6% today. Tomorrow’s storage report will cause a move one way or the other and simply wait for that report to jump on a trade. Most all supply reports have come in negative. Lets see if we finally break the trend tomorrow and get UGAZ going for a run. It’s due, but deflationary forces have kept it down like oil, but oil reversed a bit today.
The oil storage report came out and DWTI could have been traded from 106 to 112. Then UWTI became the start. DWTI fell from the 112 range down to under 100 and closed just above 100. Keep an eye on DWTI for a potential really nice higher high play, but don’t just buy it and guess it will move higher. Trade the plan. Let’s see if tomorrow we get a higher high on UWTI and the trend has reversed.
UVXY could have been played to over 18, but then it fell to close at 17.32. You have to take profits on these trend reversals as most of the time they don’t last. SVXY ended positive for the day and might have been caught for a trade.
RUSS turned the corner and is above 12 again. It seems like every time it moves past 12 it’s good for a trade. It’s at 12.27 now and see if it can be held for a higher high tomorrow. Always watch for reversals on these.
Gold and Silver Stock Mining Package
The mining package that we will be offering has been waiting for a release at a time that I feel would coincide with my overall view of gold and silver prices reaching the lower targets I think they can fall too. Many so called experts last year in July thought the miners would take off and next thing you know they broke to lower lows. Some called this latest run up the final fall for the miners. It obviously hasn’t been and I know that’s frustrating for many who are long or have been long for some time. There is a reason why I have been patient with the release of the mining package. There is also a reason why I chose the stocks I did and I’m excited about their potential. The mining package release date will be announced soon. I sent out an email to all who have subscribed on Friday with an update. If you haven’t signed up, read the following and express your interest.
We will be coming out with a mining package where we pick what we believe to be the best mining stocks to buy based on my research the last 8 months. We have been patient in releasing this because of the timing in purchasing these mining stocks can be tricky. We were one of the only one’s who recommended selling mining stocks in September of 2010 when the HUI was trading at 512.56. Much has transpired in the mining industry since that call with many companies disappearing or being taken over. Today many companies are struggling and if we do get a further pullback in the price of gold and silver, more companies will go bankrupt. Knowing which companies have the best opportunity moving forward will be key to you getting returns that we believe will be in the 100% to 500% range, and possibly much higher for some of the miners. This package will be released in the next few weeks and we will announce it on the site.
If you are interested in this Gold and Silver Stock Mining Package let us know by clicking this link below and completing the form.
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
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