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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (87642)	5/30/2009 3:32:37 AM
From: Real Man	Read Replies (1) \| Respond to of 94695

Yes. It's a short term options trade, as usual, and here is the trade setup. I'm a trader in a trading account. I unloaded 1/3 of my miners as well, in addition to unloading some 20% of miners in February. I still hold a boat of gold miners since I was buying last year into decline, and really loaded the boat when gold stocks crashed. I also had call options on XAU at that point in my trading account. I did not unload any gold and silver, nor do I plan to, but lately I have been selling miners into this rally. -g- The trade setup: HUI had 2 large gaps and hit 400 strong resistance Yesterday. It is likely the gaps will be closed. While I'm not a good gold timer, bad timers are bullish and excellent timers are bearish, which has me concerned. Rarebird predicted the gold crash last year. He is predicting a significant slump this Summer as well. Ditto Mark Faber. You ask why? Economic recovery, or green shoots, or whatever. Gold is a weird metal. It does not always like it, and my sense is this time it won't. I am bullish on gold longer term, but I anticipate a significant correction in the next 2-3 months. Message 25680365