Is Gold Ready for a Move Over $1,400?

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I had told some of you that TVIX could go to 9 when it was hovering around 8 and today it did and kept going higher to 10. I said that once it broke 9.17 today it could go to 9.70 and it did. We ended the day lower than that but it did peak out just over 10.50. Today I waited on more calls until Powell was done testifying. It was a volatile market today and no negative trades. The only negative is the first 1/5 share purchase of JNUG as a start of our longer term position.

NOTE: We have to be very careful with UVXY (TVIX) and LABD tomorrow. Both are 3 days on the hot corner. For those new, we rarely go 4 days in a row in the hot corner, but if there was one that could, it would be TVIX.

These were mixed today and presently we are concentrating elsewhere.

DWT up and DRIP down today and I think oil can still fall but now we have to see what the dollar does. It’s all about the dollar for commodities.

UGAZ had good data today but DGAZ climbed up from the dead. Neutral here.

Perhaps my impatient buy in JNUG wasn’t so bad after all. We got our 4th 1/5 trade and have 4/5 of a trade going now long JNUG. Still love to see one more dip for the final buy. We are about ready for a big move up in gold now, or in the next two weeks, whereby I think we finally break that $1,400 level that has been resistance for years. Time to load up on physical gold and silver coins if you haven’t yet. And if you didn’t know, we do sell them at Buy Gold and Silver Safely.

 Green Weekly’s

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 more likely it is to turn red on the weekly and the opposite ETF comes into play as a long. This will be tracked more when we automate the service.

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!

New way to trade beaten down ETFs; The way that trade would work, and I really think it should be a rule from now on NOT to trade anything trending down until it reverses, is we would buy at the open if it is POSITIVE or GOES POSITIVE during the day. Then we would look to profit on 1/2 shares over and over, day after day until we get the red weekly signal on the opposite trade that could turn into bigger profits. The stop would be if it goes negative for the day. The rule of keeping a stop if it goes negative for the day is a must. Lastly for this type of trading we need to not be afraid to get back in if it goes positive once again. Sometimes market makers will take an ETF negative and then reverse it right higher again because they know if it goes negative many exit. So we have to be willing to risk a few in and outs when it does this up and down move around that potential stop out area so we don’t miss the ride back up. That’s just part of trading and not a big deal. But no matter what, if it breaks to yet another lower low because you didn’t get out after giving it a little more wiggle room, you are more than likely further from the original stop out when it went negative and you are out, waiting for it to go positive again before you get back in. You are simply buying into strength.

For those of you new here, I most of the time have the ETF Trading Research report out by 8PM PDT, and it comes by an RSS feed, but you can look at the report here sometimes before you get it in your mailbox; https://illusionsofwealth.com/category/etf-blogs/  This is also the same link if there are any technical difficulties.