Adding JNUG and USLV

Adding to our post in late June, Buying JNUG, we're now going to take on another position in JNUG as well as another in USLV.

We'll open a 2nd position in JNUG when it trades to $12.15 or above, with no sell stop in mind for the time being.

JNUG closed today at $11.76

JNUG: "The Direxion Daily Junior Gold Miners Bull 3X Shares provides daily 3x exposure to an index of junior gold and silver mining companies from developed as well as emerging markets."

We'll also open another position in USLV when it trades to $8.00 or above, with no sell stop in mind for the time being.

USLV closed today at $7.75 

USLV: "The VelocityShares 3X Long Silver ETN provides 3x exposure to a production-weighted index of world silver producers listed in OECD (Organization for Economic Co-operation and Development) countries." 

We bought USLV previously, in late May.


Sentiment aginst precious metals has become extremely bearish, by some measures reaching an all-time-record bearish degree.

Of course this compels us to accumulate positions opposite to mass sentiment. 

 



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