VRA Letter: Counter Trend vs Primary Trend Action. Gold, Silver, Miners, Dollar, Bitcoin. Structural Bull Market Firmly in Place. Pass the SAVE Act. - Vertical Research Advisory

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VRA Letter: Counter Trend vs Primary Trend Action. Gold, Silver, Miners, Dollar, Bitcoin. Structural Bull Market Firmly in Place. Pass the SAVE Act.

Good Friday morning. Yesterday we added TQQQ (3 x Nasdaq 100 ETF) to the VRA Portfolio. With software stocks (IGV) hitting our most oversold level of “extreme oversold on steroids” (EOSOS)…down 31%... it’s likely that th ...

Posted On February 06, 20266 MIN Read

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Good Friday morning. Yesterday we added TQQQ (3 x Nasdaq 100 ETF) to the VRA Portfolio. With software stocks (IGV) hitting our most oversold level of “extreme oversold on steroids” (EOSOS)…down 31%... it’s likely that this group has bottomed. The rubber band has stretched too far. The corresponding move higher will be broad market bullish.

Quick recap. Two weeks ago we took profits in our leveraged ETF Strategy, selling 3 ETF’s, leaving us with our growth stocks that we want to own for the long term. We sold these broad market ETF’s for 3 reasons; a) they hit extreme overbought levels, b) there were too many bulls and 3) we saw market risks that could result in short term downside. We also warned at the time that precious metals had hit extreme overbought levels just as the US dollar was hitting extreme oversold and we believed a “counter trend reversal" was in the cards.

Here’s whats happened since...

Gold fell from $5600/oz to as low of $4404/oz. ...

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