Gold and silver continued their merry march higher today as the dollar is under pressure again, falling below 97. The mining ETFs did quite well yet again. For my favorite JNUG, whether you got in today at 21.39, yesterday at 20.45 or a few days ago at 17.94 this has been a good run so far with 25 possibly being the next stop. Move stops up from 19.36 to 20.00.
JDST falling like a knife again, down under 10 to 9.50. Don’t try to catch falling knives. At some point JDST will become a play again, but why try and think you are right and gold will all of a sudden reverse? Perhaps some data will come in that says trade it, but it is clear the momentum for now is on the long side of gold/silver and the miners.
Just so you are aware, this is a test. Market makers want you to think gold has bottomed and we are finally off to the races. Some mining stocks are performing well the last few days. Are we off to the races? Those that follow what I have to say know we are not. How am I convinced? Please look at my article 2015 Predictions for Gold and Silver for answers.
Gold is up $1.70 after hours to $1,189.40 and silver is up 9 cents to $16.98.
UWTI had a little bounce today of 6.28%. It looks like it has a little momentum despite what was said on Sunday about the Saudi’s intentions not to reduce supply. You can say that it is mostly dollar related as to its rise. The pressure will still be there to reverse course.
Natural Gas and UGAZ got no love from a falling dollar however as DGAZ moved up another 4.75%. DGAZ opened at 7.00 though and did break that high for a bit but closed weaker up 6.84. Perhaps UGAZ will get a boost from a falling dollar tomorrow. Look for a move above 2.66 to go long if that’s the case. You may have went long on the higher high today at 2.57 and still be long which is ok with stops.
After having a nice run of higher highs, including today, TNA took a breather closing down at 92.39 with a fall at the close. It’s ok to take profit here although overall I am still bullish and the “buy the dip” mentality applies. I just like protecting profit.
If we do get a reversal, see if you can squeeze a scalp out of TZA on a sustained move above 9.93 and especially above 10.12. I would treat it as a scalp and go home flat and also look to any negative data that may come out that will help the cause. Remember; bull market.
SVXY has provided a nice trade for the short term each day as the market moves higher. But it did give up some profit towards the end of the day. Look to UVXY for a scalp tomorrow especially if it can get past 15.05.
RUSS and RUSL in a range now and difficult to find a direction so be cautious.
ETF Research Trading Package
Along with the Mining Package below, we will be rolling out an ETF Trading Service soon that we are very excited about. Our goal is to help you make good decisions with the research we provide. This will be replacing the ETF data I have been providing for free the last 7 months here in the Current Thoughts section. We are sorry to have to do this but the time involved deserves some consideration as to preparation and naturally compensation. You’ll be happy to know that anyone that purchases the Mining Package will get this information for free for 6, 9 or 12 months depending on which Mining Package option they choose.
The ETF list will be expanded from the ETFs below to 30 and possibly more with the goal of helping you make good decisions in your investing each day where we typically see a 10% move in an ETF about every other day. What is important about this list of course is my continued analysis of what I see occurring to help you in this cause.
Details for the ETF Research Trading Service and sign up form can be found by clicking the link below.
Gold and Silver Stock Mining Package – Release date will be either Thursday 3/26/2015 or Friday 3/27/2015 – If you are signed up, look forward to an email announcement with the details then. If you haven’t signed up, please read below.
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. I still think that lower low will come but I want you to be well prepared before choosing which companies to invest in based on the research this report provides.
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 the miners 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. If you haven’t signed up, read the following and express your interest.
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 9 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 like Allied Nevada just did on March 10, 2015. 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.
If you are interested in this Gold and Silver Stock Mining Package let us know by clicking this link below and completing the form. Thank you.
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.