We’re sending this message because one of the profit-take levels that we featured in today’s Gold & Silver Trading Alert is very close to being reached (DUST) and another was already reached (JDST). Both levels are for leveraged ETNs - no primary profit-take level was reached or is very close to being reached. The above might be confusing as it might appear unclear whether the positions in the mining stocks remain justified or not.

Generally, each alert already includes our comments on this issue (the long paragraph in the final part of each alert), but to make the long story short - it doesn’t change anything, because the primary instrument (GDX in this case) didn’t reach its target.

The new targets and exit price levels for DUST and JDST are $31.89. and $77.89, respectively, however, the target for GDX remains the key level ($21.23).

Moreover, since gold is still relatively far from its target area (it’s still about $40 above even the upper part of the target area), we might adjust the targets for silver and mining stocks in tomorrow’s alert or in the following issues.

As always, we’ll keep you - our subscribers - informed.

Thank you.

Sincerely,
Przemyslaw Radomski, CFA
Founder, Editor-in-chief, Gold & Silver Fund Manager

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