There is confirmation for the drop in Gold. There is now a daily and weekly close below $150.00 support in the GLD ETF and confirmation that the down trend will continue. 3-6 month put or put spread option trades should be made. The target for the GLD ETF is $135.00.
*** This should be considered just information and opinions. Use your own Due Diligence before trading or investing.***
Showing posts with label Gold. Show all posts
Showing posts with label Gold. Show all posts
Friday, April 12, 2013
Wednesday, April 10, 2013
Put Trade in Gold Still In Play With Goldman Note
With Goldman Sachs' bearish note on Gold, the put trade for GLD, and or IAU mentioned last week looks like it still has a chance to be put into motion. Of course, we have to wait until there is a confirmation close below $150.00 as mentioned in a previous post. A positive to this is that the put prices are a week's worth less in time value than when the trade alert happened. We'll see.....
*** This should be considered just information and opinions. Use your own Due Diligence before trading or investing.***
*** This should be considered just information and opinions. Use your own Due Diligence before trading or investing.***
Tuesday, April 2, 2013
Gold Looking Weak; Put Trade Possible
Research is showing that gold could be looking at a fall to the $1300 - $1400 dollar per ounce range in the next 3-6 months.
US economic output continues to stabilize and grow. This takes away some of the fear investment in gold. To go along with this economic improvement, the US Dollar seems to be in a stronger position which also has a transfer effect into the dollar from gold.
Technically, the chart is showing support at the $1500 level. But if level fails, look for the next support to come from the $1300 - $1400 level. Below is a barchart.com 5 year (weekly bars) chart for GLD which tracks gold.
Because there are both fundamental and technical indicators showing a possible fall, an alert is being created. A possible trade would be to purchase some puts or put spreads. Be sure to wait for the confirmation of the break of $1500 is recommended before taking any action. With stock trading, early birds get the worm far less often.
As always, these are just opinions. Please do your own due diligence before any trading or investing activity occurs.
US economic output continues to stabilize and grow. This takes away some of the fear investment in gold. To go along with this economic improvement, the US Dollar seems to be in a stronger position which also has a transfer effect into the dollar from gold.
Technically, the chart is showing support at the $1500 level. But if level fails, look for the next support to come from the $1300 - $1400 level. Below is a barchart.com 5 year (weekly bars) chart for GLD which tracks gold.
Because there are both fundamental and technical indicators showing a possible fall, an alert is being created. A possible trade would be to purchase some puts or put spreads. Be sure to wait for the confirmation of the break of $1500 is recommended before taking any action. With stock trading, early birds get the worm far less often.
As always, these are just opinions. Please do your own due diligence before any trading or investing activity occurs.
Monday, August 27, 2012
New Trade In IAU (Gold ETF) Options
A new trade was started today. October $16.00 call options on the gold ETF IAU were purchased for $0.55 before commissions. The target price is $1.00. IAU is currently trading at $16.25. Reasons for the trade include the following:
- A confirmed breakout
- Upcoming speculation on stimulus by global central banks (US, European, and China).
If a more conservative way to invest or trade is more to your liking, don't forget to check out Sell The Call and its coverage of all things covered calls!
**Disclaimer** - This is just trade information. It is not a recommendation to buy or sell any of the securities mentioned in this blog. Do your Due Diligence before any trading or investing. Previous trades posted on this blog include USO.
- A confirmed breakout
- Upcoming speculation on stimulus by global central banks (US, European, and China).
If a more conservative way to invest or trade is more to your liking, don't forget to check out Sell The Call and its coverage of all things covered calls!
**Disclaimer** - This is just trade information. It is not a recommendation to buy or sell any of the securities mentioned in this blog. Do your Due Diligence before any trading or investing. Previous trades posted on this blog include USO.
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