I’ll be quick ..
Many things make it feel like we’re nearing a significant market correction. I think it could come any day between now and year-end.
A correction is sure to unleash a wave of risk aversion. One that pressures natural resource, commodity and materials prices as well as stocks.
We are sitting on some nice open gains. I think we should secure some today by selling some and placing stop-loss orders on others.
Here is what I recommend you do …
SELL ALL your shares of Cameco Corp. (CCJ) at the market, to close.
SELL ALL your shares of the ProShares Ultra Bloomberg Crude Oil ETF (UCO) at the market, to close.
SELL ALL your shares of Freeport-McMoRan (FCX) at the market, to close.
Place a stop-loss order to SELL ALL your shares of SM Energy Co. (SM) at $19.47, STOP. This order is good-till-canceled.
Place a stop-loss order to SELL ALL your shares of Parsley Energy (PE) at the $25.39, STOP. This order is good-till-canceled.
If these ideas make sense for you, I recommend you place these orders and make these trades as soon as possible.
I’ll be back in touch soon with updates on these recommendations, closed gains and what to do next.