Harvested Silver yesterday, (see post here) gaining a little over 20% on the position. On 7/12, near the stock market lows I ask if “Green Shoots of Growth” were about to take place (see post here), as Copper Producer Freeport- McMoran (FCX) had fallen 20%+ in a short time period, yet was attempting an upside breakout. The breakout took place in FCX and Base Metals ETF (DBB) went along for the upside ride!!! Now what?
For those long DBB or something similar, harvesting against resistance remains a good risk management idea right now, especially when the Dollar could be near a short-term low. See below for the impact of the Dollar on DBB…
Game plan…Harvesting is KEY!!! AGGRESSIVE INVESTORS ONLY, you should buy DBB on a break of line (2) by 2%. Keep in mind…SMN is a 200% INVERSE BASE MATERIALS ETF!!!
As always….If resistance is broken to the upside in DBB, we will follow!
Beware – Mr. Kimble is trying to get you rich (he calls it ‘Pocket Change’! If you are not ready for explosive growth in your portfolio, you have 7 seconds to leave this site…..
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