"Nothing will unnerve the paper gold shorts more quickly and do more to undercut their confidence than to strip them of the real metal and force them to come up with more hard gold bullion to make good on deliveries. "Stand and Deliver or Go Home" should be the rallying cry of the gold longs to the paper gold shorts." --Trader Dan Norcini
This article was alerted to us by Jim Sinclair and appears on Trader Dan Norcini's website, may we suggest another one to bookmark.
Please click on the Title to read more.
Gold was able to close the week out on a very strong note, although some traders did decide to cash in some profits ahead of the weekend, after getting a nice run of some $65 off of last week's close as of Thursday's peak price. Even in spite of the light round of profit taking, gold still managed to put in a very solid WEEKLY close surrendering only about $15 off its best level of the week and closing within striking range of $1800, the top of the heavy resistance zone noted on the price chart.
Please click here to go to Dan's website and see his charts, etc. charts
Regarding www.skoptionstrading.com. We are off to a good start this year closing two trades in January, the first gave us a profit of 71.58% and the second gave us a profit of 33.97%.
It was nice to bag a couple of winners before January ended and hopefully 2012 will continue in a successful manner. We do have a number of ideas on the drawing board which we are looking to execute shortly, but only when the risk/reward environment is firmly in our favour.
Please be aware that discussions are taking place regarding an increase in the price for this service for new members. We have looked at about 100 similar services and the average cost for them is $866.00 per year. This price increase will not affect the current subscribers whose subscription will remain unchanged.
Our performance stats have now been updated as follows:
Our model portfolio is up 446.55% since inception
An annualized return of 98.38%
Average return per trade of 36.68%
96 completed trades, 88 closed at a profit
A success rate of 91.67%
Average trade open for 50.48 days
Also many thanks to those of you who have already joined us and for the very kind words that you sent us regarding the service so far, we hope that we can continue to put a smile on your faces.
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