We bought JAN 17, 2009 $ 60.000 CALL OPTIONS on AEM (Agnico Eagle Mines) today at $5.50, and we our hereby signalling a BUY on these contracts.
The options started trading at $5.20 and shot up to $5.70, before falling back to around $5.00 at the moment. This shows just how volatile the derivatives market can be and therefore one must be prepared for this before trading in options.
Gold is currently trading at $809, which we think will be looked back at as a rock bottom bargain price, so now is the time to load up on gold, gold stock and, if you are confident and have the expertise, perhaps a range of options.
If you haven’t done so already, BUY!
And for those that have, sit tight and hold onto those positions, as we think that this is the bottom in gold and the downside from now on is very much limited.
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