Our highest rated stock for this week – PowerShares DB Gold Double Short ETN (DZZ)
Selection Price: $6.36
DZZ is actually not a stock based on the regular form of the word, but we believe it has a lot of potential to increase in value this week.
It trades like a stock, but DZZ is actually a Double Short Gold ETN. This means that the investment instrument seeks to replicate twice the inverse of the daily performance of the Deutsche Bank Liquid Commodity index - Optimum Yield Gold Excess Return.
This means that if gold goes down then DZZ goes up. It is an exchange-traded note or ETN. DZZ has had two days of significant moves higher. Gold has lost its 3-year support and it closed down 124.40 to 1352.60 during Monday's session. In relation, DZZ moved $0.79 to $6.36 or 14.18%.
We believe that gold will continue to drop this week now that it lost support. It may not drop as much as it did on Monday, but the trend is down, so we like DZZ a lot.
Never invest in a stock mentioned on SpeculatingStocks.com or mentioned in email alerts unless you can afford to lose your entire investment. Please read our legal disclaimer at http://www.speculatingstocks.com/speculating-stocks-legal-disclaimer-and-disclosures.php