FEATURED CONTENT

[Cash Out] Next IPO Poised to Pop!

Want a piece of the next Uber, Lyft or Pinterest when it IPOs?

Get your seat at the table and learn how you can capture these explosive moves before others!.

Join now to lock in Founding Member Pricing for a Limited Time!

Today’s trade with Taylor Conway: Direxion Daily Gold Miners Bear 3X (DUST)

Taylor ConwayTaylor Conway ·

The set-up: Gold had a really strong day yesterday, but it’s an FOMC meeting day today. Any time the Fed releases meeting minutes, gold and the miners go up. That’s what a lot of people will be expecting again.

This time is different because the Fed is raising rates today, and I believe very strongly that as soon as the decision is announced at 2 p.m., gold is going to reverse hard, and everything tied to gold is going with it, Whether the Fed raises a quarter or a half point, gold will be destroyed because the commentary for the rest of the year will be extremely hawkish; that’s bad news for gold, from the physical shares to the miners and everything in between.   Anybody long in a trade for more than five seconds will be on the wrong side of things late this afternoon and tomorrow.

What I’m doing: I’ll be looking to get into DUST after the decision if I buy get in below $28.50. I’ll expect it to be over 30 by Monday, Tuesday at the latest.

Looks like Jeff Bishop sees otherwise…let the games begin! Here’s his plan!

#-#-#

   Taylor Conway is the lead day trader at PennyPro.com. He is a short-term day trader of stocks and ETFs.  At the time this article was published on RagingBull.com, he had no open positions, options or orders in DUST; he last bought it on June 5 and traded out on June 7 at a small profit. “Today’s trade” is a new regular feature from the pros at RagingBull.com discussing a move the expect to make in the coming trading day. 

You may also like

Exclusive System Tracks Wall St. Insiders

“Dollar Ace Simply Exposes Information That Wall Street Wants To Keep Quiet” Said Kyle Dennis
“One member, Wesley M., has already reported 360%+ gains in just a few short days. Don’t miss this!”
(Reserve Access Now)

“What Recession?!” Jason Bond nets $55,060 in realized profit in One Day

After going 6 for 6 on profitable trades recently, we caught up with Jason to ask how he did it.
Check out Jason’s exclusive interview revealing this tightly guarded strategy. (Watch Now)

RagingBull.com Co-Founder, Jeff Bishop, Launches High Conviction Trade Service

“We listen to our clients and we give them EXACTLY what they want, so we designed a service to deliver 1 trade, 1 time a week, with a 100%+ PROFIT TARGET, directly to your inbox every Monday before the market opens. (Read More)

Be a Better Stock Trader, Starting Today

Get the expert insights, tips and strategies you need to optimize your trading skills and profiles
START NOW