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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Zeddie88 who wrote (37496)	9/8/2012 6:44:11 AM
From: GROUND ZERO™	Respond to of 222342

Honestly, I have absolutely no targets in mind, I never have targets, I only know where there could be resistance, but that's mainly for the SPs... for gold and silver, I fully expect to see gold move above 2300 at some point, probably new all time highs before this year is out, and silver will follow along... I'm not worried about bernanke and what he might say, he's certainly not going to say anything that would trash these markets since his objective is to create a "feeling" of wealth for those who hold stocks... so, even if he says something negative and the metals break down, I will only add at that point... I'm not one of those gold bugs, to me gold is just another market, but it has clearly broken out of a one year sideways pattern and I think the move has only just begun... but, that's just me... GZ

To: Zeddie88 who wrote (37496)	9/8/2012 7:22:35 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 222342

It occurred to me as an afterthought, if you want to be long gold but are uncomfortable with what bernanke might say or do, then you also might consider just holding your positions and writing some at the money calls for October on them, or maybe just in the money calls... this way, if the market does decline, then you have some good protection, and if the market still moves higher, then at least you're not out completely... Frankly, and I've posted it on this thread, that I'm very long gold and silver and many of my positions are covered with at the money October calls... I like the safely and I still do well no matter which way that market goes... Anyhow, just a though... GZ