Selling USLV, Gold & Silver Positions Update (including GTT, EAS and JOSE), TZA & VXX
The last major update on our gold and silver-related positions was a month ago.
What a month it's been for precious metals! One of the best in 8 years, during the best year for gold and silver in 8 years, for which we've been very well positioned far ahead of the pack.
USLV
2 USLV positions remain open, bought at $97.00 and $80.00 (split-adjusted), with no stops in place, one of which is still offered at $93.00
USLV just missed that level today, hitting a high of $92.82
As of this writing silver is up in overnight trading, so it's likely USLV will trade higher tomorrow.
We'll sell that USLV position, originally bought at $80.00, as planned if it hits $93.00 OR if it drops below today's close of $90.65
Originally we had 3 USLV positions. One was sold in early January 2019 for a gain of 25% in 7 weeks.
JNUG
The 1st of 4 JNUG positions we held was sold in late January for a gain of 28% in 5 months.
Per this entry on February 19 we also celebrated a 30% gain on JNUG in 6 months on a previous position.
That left 2 JNUG positions, one from June of last year at $69.25 and another from last August at $60.75 (both split adjusted).
What a month it's been for precious metals! One of the best in 8 years, during the best year for gold and silver in 8 years, for which we've been very well positioned far ahead of the pack.
USLV
2 USLV positions remain open, bought at $97.00 and $80.00 (split-adjusted), with no stops in place, one of which is still offered at $93.00
USLV just missed that level today, hitting a high of $92.82
As of this writing silver is up in overnight trading, so it's likely USLV will trade higher tomorrow.
We'll sell that USLV position, originally bought at $80.00, as planned if it hits $93.00 OR if it drops below today's close of $90.65
Originally we had 3 USLV positions. One was sold in early January 2019 for a gain of 25% in 7 weeks.
JNUG
The 1st of 4 JNUG positions we held was sold in late January for a gain of 28% in 5 months.
Per this entry on February 19 we also celebrated a 30% gain on JNUG in 6 months on a previous position.
In August we sold the JNUG position which had been bought at $60.75 for a gain of 42% in one year.
On April 22 we bought more JNUG at $37.00 (split adjusted) and sold it in July at $82.90 for a gain of 124% in 3 months.
NUGT
Originally we had two NUGT positions. The other was sold in early January for a score of 28% in 4.5 months.
We subsequently bid $15.60 for another position in NUGT. That bid was hit days later, and we closed that position for a 28% profit in 6 weeks.
Its ticker changed recently to JOSE, and today it closed at $0.90 CAD
As originally stated, "we'll close our position if it closes below $0.90 CAD".
Two weeks later it was 128% above our entry, hitting $2.15
A few weeks after that, it dropped to hit our revised stop for a gain of 54%
It subsequently plunged much lower, and we repurchased GTT at $0.62 late last year.
It's now 95% higher.
We still hold EAS at an average cost of $0.07
It enjoyed a stellar day today, reaching $0.125 and closing at $0.11
We'll hold on to this one, and any other penny stocks relating to gold or silver, so long as the current mania in precious metals seems ongoing.
On April 22 we posted in bold: "If you're not short stocks, it's a great time to buy TZA and VXXB which trade at $47.60 (split-adjusted) and $25.45 respectively."
These rose 20% and 31% respectively in short order, then retraced those gains.
In our update a month ago we noted that these were are back down to roughly the same levels as when we emphatically recommended them on April 22.
In bold we stated: "We again strongly suggest that if you're not short stocks, it's a great time to do so via TZA and VXX which last traded at $46.36 and $23.01 respectively."
On April 22 we bought more JNUG at $37.00 (split adjusted) and sold it in July at $82.90 for a gain of 124% in 3 months.
This leaves one JNUG position, the one bought in June of last year at $69.25
NUGT
Per this entry on February 20 we celebrated a 36% gain in 6 months on NUGT.
Originally we had two NUGT positions. The other was sold in early January for a score of 28% in 4.5 months.
We subsequently bid $15.60 for another position in NUGT. That bid was hit days later, and we closed that position for a 28% profit in 6 weeks.
On May 10 we suggested NGQ at $1.04 as per the original post.
Its ticker changed recently to JOSE, and today it closed at $0.90 CAD
As originally stated, "we'll close our position if it closes below $0.90 CAD".
GTT, EAS
GTT shot skyward shortly after we bought it on October 10th for $0.94
Two weeks later it was 128% above our entry, hitting $2.15
A few weeks after that, it dropped to hit our revised stop for a gain of 54%
It subsequently plunged much lower, and we repurchased GTT at $0.62 late last year.
It's now 95% higher.
We're placing a stop on this position, selling if it trades below $1.00 CAD
We still hold EAS at an average cost of $0.07
It enjoyed a stellar day today, reaching $0.125 and closing at $0.11
We'll hold on to this one, and any other penny stocks relating to gold or silver, so long as the current mania in precious metals seems ongoing.
On April 22 we posted in bold: "If you're not short stocks, it's a great time to buy TZA and VXXB which trade at $47.60 (split-adjusted) and $25.45 respectively."
These rose 20% and 31% respectively in short order, then retraced those gains.
In our update a month ago we noted that these were are back down to roughly the same levels as when we emphatically recommended them on April 22.
In bold we stated: "We again strongly suggest that if you're not short stocks, it's a great time to do so via TZA and VXX which last traded at $46.36 and $23.01 respectively."
History repeats. At today's close TZA is 17% higher while VXX is 32% higher.
Consider booking those very fast and generous gains, unless these are your only effective short positions.
Today we sold two of our TZA positions at $54.00 for gains of 11% and 15%.
posted by C. Guinness @ 11:30 PM
