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Politics : Welcome to Slider's Dugout
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To: da_cheif™ who wrote (21525)4/16/2010 4:39:14 PM
From: SliderOnTheBlack5 Recommendations  Read Replies (3) of 49961
 
Trading thoughts: VIX up +15% and US Dollar at key critical support...

The VIX was awfully cheap given the extreme bullishness in
option speculation and we got a nice pop today...



For gold and gold stocks, the HUI Index was starting to
look a little over-bought last week, so I sold my calls
purchased on the Jan-Feb correction...

Message 26444027

From: SliderOnTheBlack 4/7/2010 2:17:04 PM

Ca$hing In Some Call$

re: the March to May seasonal gold/pm trade:

GDX April $50 calls up +127% today after being
up +33% yesterday...



And now with today's $22 selloff in gold, and a pullback in
gold stocks on the back of a triple digit correction in the
DOW; we just might be setting up for yet another nice swing
trade if this pullback continues into next week, as the US
Dollar is teetering at key, critical support.

Here's a one year, weekly chart for the dollar.

For a fire to be lit under gold, we need a break below 79.51
on the weekly chart:


And here's an interesting interview with James Rickards
from KingWorldNews.com. Rickards has some interesting
thoughts on the potential of the US returning to a gold
backed dollar, and lays out the case where China may need
to be making some massive gold buys out of the market.

Rickards also adds his thoughts on the LMBA scandal and the
rather sparse inventories found in the vaults at ScotiaMocatta.

Good stuff...

kingworldnews.com

SOTB
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