Gold, One More Trip Lower Post Fed?
The following is from the Illusions of Wealth subscription service I run. It is tonight’s analysis and gives you some insight as to where gold is going presently. Presently we are offering a 1 month free trial to check it out.
Today’s Trades and Current Positions (highlighted in yellow):
Good day all around today. Special note that the two new red weekly opposites we played, JNUG and NUGT, got us an extra 2%+ overall, improving our winning percentage with these.
Economic Data For Tomorrow
Core Retail Sales and Initial Jobless Claims tomorrow.
http://www.investing.com/economic-calendar/
Today’s Hot Corner:
JNUG, NUGT, BZQ, YINN, USLV, LABU, DWT
(TMF new green weekly)
Cold Corner (the biggest move lower 3% or more that are green on the weekly and or weekly/monthly or turned red on the weekly – those in bold are consecutive days in the Cold Corner):
JDST, DUST, BRZU, YANG, LABD, GUSH
(UWT, GUSH, DGLD, DSLV, DUST, JDST new red weekly’s)
Green Weekly’s
These are the ETFs that have turned green on the weekly and the dates they turned green. This is used for tracking your percentage gains so you know when to take profit for each ETF per the Trading Rules profit taking guidelines. These green weekly’s work as you can see from the %Gain/Loss tables. You won’t get the exact high with your trade but you will also be out typically well before they start to fall again or turn red on the weekly. Your best way to profit with the service is stick with the green weekly trend and take profit while using a trailing stop on remaining shares. Also, if these green ETFs are up for the day at the open, they offer the best scalping opportunities. I am always fine tuning this section so if there is confusion at all, email me and be specific and I’ll be happy address.
I know I have said this many times but it is worth repeating; If you stick with the green weekly trades your odds of profit increase as there is more risk with the day trades. I call the day trades with the intent of catching some runners, so will get a few 1% stop outs but eventually catch the 5% to 10% or more runners. The important part of the list below is that the longer the ETF stays on the list (the one’s at the top of the list by Entry Date) the more likely it is to turn red on the weekly and the opposite ETF comes into play as a long.
Sell half shares on a spike up on any ETF you are long, even if goal is higher. Spikes higher are almost always followed by moves in the opposite direction. Try and get out with a market order quickly before the quick move back lower. Lock in that profit!
Source: http://buygoldandsilversafely.com/gold/gold-one-more-trip-lower-post-fed/
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