Hello hm, tonight's report:
Bought GDX at USD 62.44
Short Puts, Dec 11, strike 60 at USD 3.60
Short Covered Calls, Dec 11, strike 65 at USD 3.60
Bought GDXJ at USD 36.60
Short Puts Nov 11, strike 36 at USD 2.95
Short Covered Calls Nov 11, strike 38 at USD 2.50.
The trades were done at 1/3 of size I am willing to build up to, meaning assuming I am put the additional shares per puts shorted here, I am willing to do the cloud-ATM trades twice more and end up w/ 6x the gdx & gdxj I bought here.
I am figuring
(i) the monetary, economic, financial, geopolitical, political, and real world is as messed up as ever
(ii) no good news
(iii) bernanke was astute to have held back monetary deluge, until the call of duty, maybe later in September
(iv) Obama may say something bold in early September, or not, and
The market may boom or kaboom
(v) whatever may or may not happen to the market, the real economy is getting worse, so bernanke may do something bold, or not, and
The market may boom or kaboom
(vi) whatever else may happen, gold shares are cheap relative to gold, and gold metal has already done its duty for 2011, but gold shares fell down on the job for this year
(vii) at some point we must leverage to getgold, or we getleveragedgold.
Cheers, tj |
