Gold futures: Final Shakeout Before The Melt Up?
June Options Expiration is Tuesday, May 25:
StrikePrice - # contracts
1100 -- 7,105
1150 -- 4,976
1200 -- 18,103
1250 -- 4,781
1300 -- 5,306
1400 -- 6,227
1800 -- 5,814
The Smackdown Crew needs to take gold down to $1100-1150
to take out 40-50,000 delivery contracts.
I'm holding the remainder of my GLD puts until we
see the whites of their eyes at $1150ish.
And once they washout the specs, given the rapidly
deteriorating fundamentals for debt and fiat currencies,
that sets up gold for a potentially hellacious melt up rally.
We shall see.
You'd bettter be short something in this market,
or have a very friendly pharmacist.
Keep your chin straps fastened bugs,
SOTB
PS: Remember this, as you as listen to CNBC's Sharon Epperson,
scream from the pits:
"Oh the carnage, oh the humanity..."
As Platinum is down -9% and the mo-mo players get shaken out of gold.
"Always trade the traders, not the market, because
while markets always change, people never do."
--SliderOnTheBlack
Here's yet another potential meltup catalyst.
Enjoy...
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