I have made a gold move based on herd mentality (sometimes one needs to go with the flow) and am always looking for more predictions from experts to keep my confidence up. At the end of the day, it is really that. How many people are going to believe the gold story and shore up on the metal. So far so good.
One story is about how Gold bars is selling like hot cakes at Harrod’s of London. Another one has a title of Gold Fever, Gold Mania, etc. So, like I said, as long as the media pulls through with the gold story as I expect, I should be good as gold.
I am holding the January 2010 GLD 120 call which is currently far out of the money. GLD closed last Friday at 107.43. So, I still have a long way to go. But I also have time on my hand. My call options are 18% down at this time and I am looking to sell the options at a premium gain. Technically GLD has to go over 121.07 for me to make a profit, but I expect to sell for a gain much earlier.
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