IF and when ProShares UltraShort Silver (NYSE: ZSL) [$100.04] jumps above $101.27 (a recent monthly closing high) I would love us to take nice positions in shorting commodities / metals like gold and silver. There is an AWESOME opportunity here that from my vantage points needs our utter most attention.
This month should ProShares UltraShort MSCI Brazil Cppd (NYSE: BZQ) [$91.40] move above $93.54 (June's monthly closing high) then this could also be confirmation that commodities are in big trouble.
Because BZQ inversely tracks the metals commodity sector then you only need to own one or may be two 'short' metals ETF since you don't want to be overweight any singular sector of the market.
YOU MUST wait for the above buy points to be busted to the upside before committing fresh capital to work.
ANY breakout by ZSL OR BZQ triggers a BRAND NEW universal 'short'/sell commodities signal.
Another ETF that could also breakout is VelocityShares 3x Inverse Silver ETN (NYSE: DSLV) [$69.89] when it climbs above June's all time monthly closing high of $74.56.
REMEMBER; NO BREAKOUT MEANS NO BUY SIGNAL! KINDLY WAIT FOR THE BREAKOUTS!!!