Just another quick note to let you know that in todays trading session in NYC we bought some Call Options and they are the MAY 2010 series at a strike price of $60.00, for which we paid a price of $4.64 per contract.
Yes, these are the very same contracts that we bought recently only to be stopped out by the trailing stop that we had placed in order to protect ourselves from a sudden drop in gold prices, which actually happened, albeit for a short time period.
Gold prices are up today with gold trading at $1096.10/oz as we write and silver is also joining in the fun trading at $15.67. Agnico-Eagle has put on 4.87% so far in this session so it should close reasonably well.
News of a possible rescue package for Greece by other EU member states has helped to quell fears about the EU for now, aiding the Euro and putting a cap on the US dollar.
This is going to be a volatile ride so hold on tight and be prepared to move quickly and utilize your 'stop' facilities.
All the best.
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