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« BUY GOLD, Call Options | Main | Yamana Gold Incorporated: BUY CALL OPTIONS! »

Precious Metals: Timing!

GLD Chart 31 July 2008

So far this summer we have managed to acquire a few more gold and silver mining stocks and a few call options as per our plan to deploy our ‘opportunity cash’.

We still have maybe two or three purchases to make but then we will be in position for what we anticipate as being an exciting rally from September through to around February 2009.
Labour Day falls on the first of September this year so we reckon we need to be fully invested by about mid August. There could be a dip between now and then but we are not going to bother busting a gut to try and pin point when it may or may not arrive. The important factor as we see it is to be in position. The daily ups and downs will be considered as white noise, which is to be ignored. However, during this rally we will be looking for trading opportunities to present themselves in terms of stock landing in the overbought zone or our call options hitting reasonable profit levels.

Talking of call options we are digging into the possibility of buying them on SPDR GOLD TRUST GOLD SHS (GLD: NYSE Arca) this trust more or less mirrors the movement in gold prices. When we buy an option on a stock it is because we feel that it has been oversold and hope to catch the recovery. With this trust we should get movement directly correlated to gold. A quick look at the chart suggests that the time is getting near for a buy so we will keep a close on it.

Anyway we will be back as soon as we have concluded our deliberations on where we are going to make our last moves for this season.

Keep smiling and keep a watchful but relaxed eye on this bull market.

These are fast changing times and its essential that you stay up to date with what is going on in the market. For our latest commentary and trading signals on gold, click here to subscribe to The FREE Gold Prices Newsletter and click here for The FREE Silver Prices Newsletter.

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