Gold and Silver Current Thoughts 7-22-2015

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Gold was down again today with silver. Tough going as the dollar went higher for a bounce. Below is the ETF Research Analysis I am offering a 2 week trial for and if you don’t like to make money, don’t sign up. It’s free and we have had 10% and 30% returns in the last week. Why not try it? Click here to sign up for the free trial: https://buygoldandsilversafely.com/etf-research-trading-service/ 

GOLD MINING RELATED ANALYSIS

My article titled “April Call To Wait And Buy Gold Below $1,000 Still in Effect” was chosen as “Editors Choice” for Seeking Alpha and is available here: http://seekingalpha.com/article/3344695-april-call-to-wait-and-buy-gold-below-1000-still-in-effect 

I wrote yesterday that DSLV, JDST and DUST are all still green on the weekly and monthly signally one may buy the dip. I also said I would buy the higher high of any of these tomorrow or the JNUG, GDX, GDXJ and NUGT group.  I think you could have made money either way. I personally scalped the higher high of JNUG from 8.05 to 8.65. Tomorrow are the same rules. If we can finally get gold going from this smack down, JNUG will fly for a good 4 digit profit or more. But for now I would only do what I did today and scalp until we get a green signal or at least a move higher in gold.

CHINA

YANG still didn’t break 82.87 but was green for the day. I would attempt a long at 79.61 tomorrow if not in and look to move stops up on a break of 82.87. YINN I would attempt another scalp at a break of 33.05.

ENERGY

DWTI I said yesterday I still lean long and to look for a move over 105 for a stronger move higher. Today we got that move. You could have bought the open at 105.45 or bought the higher high and we took off today breaking to 111.54 at the close. Next stop we are hoping for 160 eventually but resistance at the 133 level first. Can oil reverse? Sure. But if you look at my overall deflationary look, I like buying the dips of DWTI, but I also like taking profit.

ERY 23.87 stop was hit but not broken so hopefully you put it a penny below or more because monthly greens you can have a wider stop. We got 74 cents of profit yesterday and add 53 cents to that today. I said Look for a break of 24.74 and move stops up to 24.25 but that was the exact high. I would keep a stop at 23.87 still or a little higher if conservative.

UGAZ may have got you long at 2.28. I would have a stop at 2.15 if you did go long, but it is not real strong.

INDEXES

TQQQ opened lower because of the AAPL disappointment and our stop of 126.04 is hit and we have locked in profit. I would only go long if we get a rebound and move past 124.65.

SVXY got stopped out at 92.46 or break even, whichever you chose, but is still green for the day and you can re-enter tomorrow at a break of 95.59. Still needs to blast through 97.42.

FAS broke 35.59 and you may still be long or bought the dip as I said I like it. 34.76 stop.

RUSS I said I would only be a buyer on a break of 33.67 and it opened at 33.83 and moved to a high of 35.33. Move stop to 33.69.

For the 5 new weekly trades

TZA opened higher but fell lower and down 11 cents for the day.

SPXL,Opened lower and was not a play.

UPRO Opened lower and was not a play

SSO Opened lower and was not a play

TWM opened higher but fell lower and is down 23 cents on the day.

I don’t really like any of the above as they were triggered on an extreme day and all failed so they are not on the list any longer.

INTEREST RATES

TLT I said yesterday I still lean towards it and it ended up 74 cents on the day. If long, keep a stop at 118.95 or break even if conservative.