We are once again moving our profit-take levels higher. Miners are very strong once again - they soared again, even though gold moved just just a little and S&P just rebounded instead of rallying.

If the previous profit-take levels were reached before you read this message, in our opinion, you may want to consider getting back in the market for the remaining part of the rally.

It seems that miners will move even higher than we thought.

Your profits keep on growing substantially - congratulations.

To summarize:

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

To summarize:

Trading capital (supplementary part of the portfolio; our opinion): Full speculative long positions (150% of the full position) in mining stocks (but not in gold nor silver) are justified from the risk/reward perspective with the following binding exit profit-take price levels:

Senior mining stocks (price levels for the GDX ETF): binding profit-take exit price: $25.47; stop-loss: none (the volatility is too big to justify a SL order in case of this particular trade); binding profit-take level for the NUGT ETF: $15.47; stop-loss for the NUGT ETF: none (the volatility is too big to justify a SL order in case of this particular trade)

Junior mining stocks (price levels for the GDXJ ETF): binding profit-take exit price: $35.37; stop-loss: none (the volatility is too big to justify a SL order in case of this particular trade); binding profit-take level for the JNUG ETF: $13.93; stop-loss for the JNUG ETF: none (the volatility is too big to justify a SL order in case of this particular trade)

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

Thank you.

Sincerely,
Przemyslaw Radomski, CFA