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Jim Van Meerten is the Owner and Publisher of http://FinancialTides.blogspot.com and earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and post-baccalaureate and graduate courses in Business Administration,... More
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Financial Tide by Jim Van Meerten
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Financial Tides by Jim Van Meerten
  • Is there gold in ETF's 0 comments
    Nov 9, 2009 01:29 PM | about stocks: DGL
    On Financial Tides we realize there many 2 reasons to buy ETF's. You can make plays on the economy, the underlining fundamentals of a particular industry or country or just plain technical analysis.

    DGL the Proshares double Gold ETF is just such a technical play. Gold has been rising and this ETF gives you leverage.

    Right now DGL is within .33% of its recent high and has seen 4 new highs in the last 5 days and 6 new highs in the last 20. It's had an 18.41% price appreciation in the last 65 days.

    BarChart's technical analysis indicators have a buy signal on 13 out of 13 indicators for a 100% buy signal. Over on Motely Fool the CAPS rating by their readers is 105 to 10 in favor of a further price increase.

    Recommendation: If you think gold will go up and the dollar will continue to weaken then DGL the Proshres double Gold ETF is a buy at 40 with a protective stop loss no higher than 37.

    Jim Van Meerten is an investor who writes on financial matters here and on Financial Tides. Please leave a comment below or email FinancialTides@gmail.com

    Disclosure: I hold no positions in DGL at the time of this publication
    Themes: gold, etf Stocks: DGL
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  • SNDK- Sandisk Corp -- added to the Van Meerten/BarChart New High portfolio http://bit.ly/3S81Lq
    2 days ago
  • XCO - EXCO Resources - added to VanMeerten/BarChart New High portfolio http://bit.ly/3S81Lq
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    2 days ago
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