Posted on April 26, 2020
Last week, we issued subscribers important updates on two trades – the April 16th GDX/UUP initiative and the April 20th IAU/SLV trade.
For the former, we urged the following action:
We are recommending IMMEDIATELY that the trade be reinstated with two legs – a short GDX position (currently at $31.01), and a long UUP position ($27.02).
Move now to close all other open positions and set a STOP BUY order for the short GDX position at $34.00.
And for the latter, we wrote:
Reinstate the trade without the short IAU PUT. That is, sell IAU ($16.10), buy SLV ($14.27), and set a STOP BUY on IAU at a level equal to the credit generated ($1.83) ABOVE the current IAU price — that is, $17.93 (16.10 + 1.83).
REPEAT: buy back or cancel orders for short IAU PUTS.
As they were only sent via email at the time, we now post them here for the record.
Alan B. Harvard