In light of today’s big decline, we decided to keep the positions intact, but to move the stop-loss levels closer to the current prices. We are moving them below the prices at which they were opened, so effectively we are locking-in some of the gains while simultaneously letting them grow further.

You will find the details below:

To summarize:

Trading capital (supplementary part of the portfolio; our opinion): Full short positions (250% of the full position) in gold, silver and mining stocks are justified from the risk/reward perspective with the following stop-loss orders and exit profit-take price levels:

Gold: profit-take exit price: $1,062; stop-loss: $1,221; initial target price for the DGLD ETN: $82.96; stop-loss for the DGLD ETN $54.27

Silver: profit-take exit price: $12.72; stop-loss: $15.56; initial target price for the DSLV ETN: $46.97; stop-loss for the DSLV ETN $28.87

Mining stocks (price levels for the GDX ETF): profit-take exit price: $13.12; stop-loss: $20.81; initial target price for the DUST ETF: $80.97; stop-loss for the DUST ETF $30.87

Note: the above is a specific preparation for a possible sudden price drop, it does not reflect the most likely outcome. You will find more detailed explanation in our August 1 Alert. In case one wants to bet on junior mining stocks’ prices (we do not suggest doing so – we think senior mining stocks are more predictable in the case of short-term trades – if one wants to do it anyway, we provide the details), here are the stop-loss details and target prices:

GDXJ ETF: profit-take exit price: $17.52; stop-loss: $30.72
JDST ETF: initial target price: $154.97 stop-loss: $62.78

Long-term capital (core part of the portfolio; our opinion): No positions (in other words: cash)

Insurance capital (core part of the portfolio; our opinion): Full position

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On an administrative note, we would like to remind you that we increased some of our prices about a month ago (moving them to the current levels for those that subscribed at lower prices). If you missed our notification about it and do not accept it (or you wanted to cancel and simply forgot before the renewal), please note that you can request a cancellation and a refund, and we’ll honor it (we provide a 30-day money-back guarantee).

To be clear - we are not increasing our prices again right now - we are simply reminding you about some price increases that might have affected your subscription that you might have missed. The odds are that the money that you made in the trading thanks to our signals covered many years of subscription (in many cases being greater than the value of the lifetime subscriptions), but for the record - we feel it’s simply right to remind you that you can request a refund, if you feel that it’s a right thing to do - we’ll process it.

Thank you.

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

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