EOM Market Recap 5.10.16 “Trading Tuesday” DUST

Good Evening,

Those breaking the rules and shorted into last night’s close are not “happy campers” tonight-data from stockcharts.com.  Per the Sectors, Energy took the top honors.
I do not know what happened this AM that brought buyers in….it definitely was not the $USD selling off.  Here is my chart showing the $USD with the SPX and commodities.  The vertical red line highlights the price reversal.
Tomorrow, I begin a new feature “EOM Q&A,” where I answer your questions.  The first question-where do I see the next upside target?    The posts be kept in a file in the “Members Vault,” beginning in June.
Tonight I feature DUST-their profile from Yahoo Finance.
Key Points on DUST…
1.  Is leveraged 3X
2.  Trades inverse to $GOLD with a -.93 correlation
3.  Dropped 97% from the previous high
4.  Has a high percent of short interest
5.  Previous lows were identified with the RSI and Slow Stochastics
At some point, GOLD will have a larger correction…and can stimulate a fierce “short covering” rally with DUST.  With such a
low price, it would not take much to have a 20-30-40% run, or even higher.
Don’t forget tomorrow’s EOM Q&A roll out.
Enjoy your evening!

David England has sent you a SharpChart snapshot from StockCharts.com:

a SharpChart snapshot from StockCharts.com

Comments from David England:

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