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The Weekend Edition is pulled from the daily Stansberry Digest. The Digest comes free with a subscription to any of our premium products.
Did You Miss the Last Breakout in Gold? Here's Your Second ChanceBy
Saturday, October 14, 2017
Regular readers know our colleague Ben Morris has been watching gold closely for months.
And in late August, he finally got the confirmation he was looking for...
The precious metal finally broke out of a massive, decade-long "wedge" pattern. This was an extremely bullish sign, and Ben told his DailyWealth Trader subscribers it was finally time to trade gold from the long side.
Gold moved higher almost immediately. It jumped nearly 3% over the next eight trading days. But the rally didn't last long...
Gold has been slowly moving lower ever since, and is now down nearly 6% over past month. And many gold bulls are starting to get worried.
If you're among them, Ben has some good news. He says gold's recent weakness is normal and natural. In fact, if you missed the big breakout in August, he believes this is could be a great second chance to buy. As he explained to his DailyWealth Trader subscribers on Monday...
One important caveat... After an asset breaks through its support or resistance, it will often temporarily reverse course and "test" its breakout point before reversing again and starting a bigger move. And that's exactly what gold is doing now. More from Ben...
Ben shared a recent example of another DailyWealth Trader recommendation to illustrate how this scenario often plays out...
As we often say, the market is unpredictable... We can't assume gold will follow a similar path. But this chart says the bullish case for gold remains intact... and traders have a low-risk opportunity to buy today. More from Ben...
Speaking of speculative opportunities... If you've been with us for long, you likely know we've never recommended bitcoin or any other so-called "cryptocurrency." The reason is simple...
Many of our analysts have been highly skeptical of "cryptos." And even those of us who have been optimistic about the technology have had serious concerns about the risks to investors.
As Porter often writes, our goal at Stansberry Research is to give you the information we would want if our roles were reversed. Unlike some of our competitors in the financial publishing industry, this means we won't recommend anything we wouldn't feel comfortable recommending to friends and family, or putting in our own portfolios.
Cryptocurrencies simply didn't meet this standard.
However, that could be changing...
In recent months, the industry has seen some critical developments take place. And several of our analysts – including Porter himself – are taking a second look at cryptos.
To be clear, we remain cautious... We still believe there are significant risks associated with cryptocurrencies. You could lose every penny you put into them. But we can't deny the substantial upside potential.
In short, we believe it's time for every investor to learn more about these digital assets. And we're holding our first-ever live cryptocurrency event to help you do just that...
On Wednesday, October 18, at 8 p.m. Eastern time, Porter will sit down with two of the most successful cryptocurrency experts in the world to explain the most important things you need to know now... and answer any questions you might have. Learn more about this event here.
Regards,
Justin Brill
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