• 287 days Will The ECB Continue To Hike Rates?
  • 287 days Forbes: Aramco Remains Largest Company In The Middle East
  • 289 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 689 days Could Crypto Overtake Traditional Investment?
  • 694 days Americans Still Quitting Jobs At Record Pace
  • 696 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 699 days Is The Dollar Too Strong?
  • 699 days Big Tech Disappoints Investors on Earnings Calls
  • 700 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 702 days China Is Quietly Trying To Distance Itself From Russia
  • 702 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 706 days Crypto Investors Won Big In 2021
  • 706 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 707 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 709 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 710 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 713 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 714 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 714 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 716 days Are NFTs About To Take Over Gaming?
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

  1. Home
  2. Markets
  3. Other

Precious Metals are Poised to Move. We Have One Caveat

6/29/2008 12:06:19 PM

Precious Metals are on the Move. I recognized the up move coming by looking at the relative strength of Palladium compared to Gold and Silver. When Palladium broke out last week, I said all systems were a go for PAL. Just a couple of problems with this recommendation. Somehow PAL showed up in my database as an ETF. It is Not ! It is an individual stock subject to it's own good points and bad regardless of a move in Palladium. I still feel that it is ready to move up. We will hang on to it for now because it gives us our only position in the precious metals, but if we can leg out of it, and into a Gold or Silver ETF, we will. Also, even though Palladium signaled the turn in the metals, Gold and Silver stormed out of the gate first. We need to find a way to safely buy an ETF in those metals.

Trade Actions:

Buy GLD ( Street TRACKS Gold ) at 90 or better
Buy GDX ( Market Vectors Gold Miners ) at 46 or better
Buy DGL ( Powershares Gold ) at 33.5 or better
Buy SLV ( I Shares Silver Trust ) at 170 or better
Buy DBS ( Powershare Silver ) at 31.5 or better
Buy DBP ( Powershares Precious Metals ) at 33.5 or better

IF you get filled on 2 of these positions, Cancel the other orders. If you want to maintain more, go ahead. We will only track the first 2 fills if we get them. If the metals market runs away without us getting filled, I will be comfortable with PAL as a substitute.

Market Outlook/Potential Opportunities:

The US Stock Market is in its down leg. It did not give us a good rally to sell into. We do have a couple of Short positions, so we are sitting pretty well. Plus we have a few inflation hedges on. We will stay the course for now. There might be some backing and filling to the upside, but I believe the Stock Market is in trouble. Still there are pockets of strength, We are long FBT Biotech and I believe it will be a survivor in this environment. We also are trying to set up more Short positions. We did get a decent entry on the Ultrashort SRS and we doing real well on it. We are also short REM, so we have ( 2 ) short Real Estate positions on.

Current Long Portfolio:

Long CGW Global Water @ 25.55

It closed at 23.30

No Stop

Long ( 4 ) PAL Palladium Fund @ 5.97

It closed at 5.59

4.75

Long SRS Ultrashort Real Estate @ 84.80

It closed at 104.9

No Stop

Long NLR Nuclear Energy @ 32.59

It closed at 33.90

No Stop

Long FUE Elements BioFuel @ 10.0

It closed at 11.65

No Stop

Long FBT Biotech @ 23.2

It closed at 22.45

No Stop

Bought COW Livestock @ 44

It closed at 44.28

No Stop

Current Short Portfolio:

REM Mortgage Real Estate Investments Trust @25.2

It closed at 20.84

No Stop

Recently Closed Positions

 

Back to homepage

Leave a comment

Leave a comment