That turned out to be a bad call ... so far... however long-time readers know we're not wrong often and even less so in succession.
Don't go too big on UVXY. The world, and its markets, is unusually volatile. As compelling as the short case is, it can certainly become more compelling. If so, we'll go heavier on the short side at that time.
Buying UVXY Monday, which closed last at $12.53
No stop.
We're way behind on updating positions, some of which you've probably taken at least some profits on. Eventually, we'll catch-up.
On
June 20, we wrote of Golden Goliath:
"For those wishing to speculate, adding above $0.10 and if need be then selling below $0.07 should present a reasonable risk/reward ratio given the tremendous upside potential."
It closed last week at $0.175 and "should" go higher still if or when gold and silver move much higher.
On
May 19 of this year we wrote in bold that
Falcon Gold "
currently at $0.065, still looks very much worth accumulating to us,
for those longer-term bullish on the precious metals sector."
10 weeks later FG (Falcon Gold) was 285% higher. It closed last at $0.12 and "should" go higher still if or when gold and silver move much higher.
See that May 19 link above for what we wrote on GLI (Glacier Lake Resources). Our view of it, like its share price, remains the same.
It last closed at $0.06 and "should" go higher still if or when gold and silver move much higher.
In August "energy metal" stocks began to rally big. Lithium, cobalt and the like.
Here's one related stock that hasn't rocketed higher ... yet?
New Age Metals trades under ticker NAM in Canada and NMTLF in the U.S.
It last traded at $0.07 CAD and looks to be in the process of breaking a down trend stretching back to January of this year.
We'll track the Canadian issue of New Age Metals, since that's where the company is based.
Here's its chart:
The blue circles show that near, or just after, the end of each of the past 5 years this stock shot higher. Same situation now?
The red lines show down trends broken. Same situation now?
Green shows that this stock is also in a year-long pennant formation, which in this case should resolve higher.
The black lines show that downside is limited while above roughly $0.12 there's technical potential for it to skyrocket after breaking a 5-year down trend.
Obviously, like all penny stocks ... like all stocks ... New Age Metals is a speculation, and as seen below arguably markets overall are overdue to tank so proceed with prudence.
Worth considering:
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