Gold and silver popped up overnight but headed down ever since in U.S. trading. JDST again was the star and closed up 15.68% to close at 14.46. Meanwhile, the mining ETFs are getting hammered even with gold closing a little positive today. Many of the miners I follow have broken down which if you have been reading about why I am delaying the release of the Mining Package, you now know why. But I will be releasing it soon nonetheless.
Gold is now -100 but silver is slow to the collapse and is hanging in there at -70 still. While we can always get bounces along the way, there is not much data being released between now and Thursday so I wouldn’t expect too much in the way of sudden reversals. Market makers can move an investment to trap investors betting the other side, but that move is typically a short term reversal and the trend continues. We’ll see what’s up tomorrow but beware of reversals. Keeping a stop and getting back into an investment simply doesn’t hurt you much, but does protect your profits. JDST and DUST are +70 on their way to +100 when the monthly goes green. Just a matter of time. JDST triggered the weekly green arrow at 9.85 which I wrote about in my Current Thoughts on 2-23-2015. It’s now up 46.80% since that time. Not bad for 2 weeks.
DGAZ was the other star of the day but would have been pretty impossible to play unless you could trade pre-market as it gapped higher to open above the 6.52 figure I gave out yesterday, opening at 7.41. It only made a move to 7.63 as a high, so tomorrow use a break of this number as an entry, or whatever the higher high is. 7.68 is the one month resistance so it was no surprise that it struggled with that level today. If we can move past that 7.68 then we may head to 8.73-9.07 and unchartered territory up to 10.25 which was last reached in January of 2014.
UWTI might have been played for a higher high this morning, but as I have said before, if you go against the trend you have to take profits. DWTI never triggered a real buy that looked attractive today.
RUSS is finally showing the weakness in Russia that I have been seeing. It moved past $13 to a high of $13.41 before closing at $13.22 and is down to $13.10 in after hours trading. Yesterday I inadvertently used the wrong prices on RUSS and I’m sure you would have figured that out by looking at the chart. I’m not going to go back and correct those, but they were off by a $1 for some reason. I would move stops up to $12.50 on RUSS if you went long on the move over $12. If conservative, move the stop to $12.75. If it can break 13.62, then this could really turn into a very nice trade with resistance at 14.53, then 18.16. That’s a big jump if we can get past 14.53.
SVXY would have been difficult to trade today. I expect it will continue to pop up but you need a move above 65.93 and 66.46 to if it can run to 67.87 – 69.27. Trading these can be very volatile and for that reason take profit and keep stops if wrong. UVXY I expect to go lower as long as the S&P continues higher.
TNA resumed the trend higher today, up 1.25% to close at 83.70. You need a break of today’s high of 84.17 to see if it can run a little and get back to break the 88.20 mark. I still think we are in a bull market, but what I say doesn’t matter. Price action is all that matters. Let the price lead you to profit.
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 recently with an update. If you haven’t signed up, read the following and express your interest. If you are signed up, look forward to an announcement next week, March 9 – March 13.
For those who haven’t signed up; 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
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.