ETF GLL Ultra Short: 11.04.25/11.85 USDAfter a long run over the years, Gold climbed up to 3200 USD/oz.
The ETF GLL Ultra Short, which is leveraged by factor 2, seems to reach a bottom.
Reasons for bottom
- traded Volume very high
- excellent Elliott-wave structure in several time periods
Fear factor will be reduced: Toll Bomb will no
Key stats
About ProShares UltraShort Gold
Home page
Inception date
Dec 1, 2008
Structure
Commodities Pool
Dividend treatment
Distributes
Distribution tax treatment
No distributions
Income tax type
60/40
Max ST capital gains rate
27.84%
Max LT capital gains rate
27.84%
Primary advisor
ProShare Advisors LLC
Distributor
SEI Investments Distribution Co.
GLL is a geared inverse product designed for short-term bets against the price of gold. The funds inverse exposure is benchmarked to the price performance of the Bloomberg Gold Subindex an index tracking a rolling futures position on gold based on Bloombergs fixed contract schedule. Investors should be aware that compounding can cause the fund's return to vary significantly from the headline -2x exposure if held longer than one day. To obtain the multiple over longer periods, investors must monitor and rebalance their position. Since the fund is designed for tactical use as opposed to long-term investment, the cost of accessing it is of more importance than the cost of holding it. As an ETF, GLL is structured as a commodities pool, so expect a K-1 at tax time.
Classification
What's in the fund
Exposure type
Cash
Bonds, Cash & Other100.00%
Cash100.00%
A 40%-60% Pump Looks Probable as we Move Above the 55 Week SMAThis looks like a Higher low double bottom that has been confirmed by a move above the moving average and
The Stochastic RSI is in the oversold range and looks ready to attempt a bullish crossing.
We will likely see a rally to the last major resistance zone around 50 dollars.
GLL - Gold Shorts - brschultz weekly model places low Oct 2021Expect Gold to Soar into late Q3 2021 (would be almost precisely 10 years from 2011 peak).
2 years for Gold to run sky high (thus gold shorts would bottom in Oct 2021)
I will most likley sell my entire JNUG stake in Oct 2021 (from my big buy in late May 2019 when XAU was closing below 70)
See all ideas
Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.