Update

Before I delve into this week’s issue here’s a quick update for the model portfolio and some new recommendations:

Actions to Take:

1. Gold miner Newmont Corp. (NYSE: NEM) triggered our recommended stop on close level on April 25^th, so as per our methodology in this service, you should be out of the stock as of the morning of April 26^th. Based on the volume-weighted average price on the morning of the 26^th of $73.05, this sale represents a gain of 19.93% or $735.80 since recommendation on January 24^th.
2. The iShares Russell 2000 Value ETF (NYSE: IWN) triggered our recommended stop on close on May 9^th, leading to its sale on the 10^th at a volume-weighted average price of $145.26. The loss since recommendation here is 12.71% or $1,601.92.
3. As per my late April flash alert, you should also have booked a 52.10% gain on half your position in the Tuttle Capital Short Innovation ETF ($1,560.20) and you should have added 200 units to the recommended position in the ProShares Ultra Short QQQ ETF (NYSE: QID) at a price of about $22.81.
4. Our remaining open recommended positions in both inverse ETFs –QID and SARK referenced above – are now showing sizable gains of 83.4% and 31.1% respectively since initial recommendations in early December of 2021 however, as I explain in this issue, I see the potential for more short-term downside, and I am not recommending you take additional profits on either ETF at this time. Please be prepared, however, as I will likely issue a brief flash alert when the time comes to make an adjustment and book gains.
5. I am recommending you add 25 shares to our recommended position in frozen potato company Lamb Weston (NYSE: LW) and 25 shares to your position in Molson Coors (NYSE: TAP) at prices under $70 and $60 respectively, bringing these positions to 100 and 125 shares respectively.
6. I am recommending you buy 100 units of the iShares 7 – 10 Year Treasury Bond ETF (NYSE: IEF) at any price under $105.

The S&P 500 is now down about 18% from its all-time high set on January 3^rd while the Nasdaq has plummeted just under 30% from its own peak on November 19^th and more than 27% year-to-date…