Friday, July 26, 2013

GDX Call position

Sold our GE put at the open and booked a tidy little profit, GE was a two bagger made it up and made it down..Prefect stock to do such a trade. We we're waiting for the next Gold take down as well as a GDX correction to pile in, and sure enough like clock work the  Consumer Sentiment numbers we're posted and down went Gold and GDX shares alike. Loaded up on the Dec $27 Long Call NTM ( near the money )   I have a feeling the Debt Ceiling debate is gonna bring some serious volatility to the markets as well as the usual " The Sky is falling " BS, should be real good for Gold and Gold mining shares. As you can see from the chart below the GDX is breaking to the upside, shorts better take notice, and when the bull ( though premature ) gets going these shorts will have to buy and cover, when that happens we're off to the races and quick...Get in early.

And now the DXY


No comments:

Post a Comment