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RE: "Physical" gold is for suckas....buy paper gold.... here's why.
I will go farther out on GDX via the July 22nd expiry $22 calls which are cheap at .60. More than enough room for error as GDX "should" trade through at least $22 by then. Current price is .60 market so I will just log in the buy price. Targt is actaully 23.40...justbecuz that's what we have already been told by the clowns running the machines.They're just as skeeerd as you gold longs are tho...so relax...I'm here to help.
"Physical" gold at $1243..ish" according to 321gold.bomb
Correction to this spew. That is actually the 7/21/17 GDX expiry contract, not 7/22 as stated
6/22/17 update: GDX is already above the $22 strike price I targeted for this trade, and it is now moving away from $22 in premarket trading. If GDX moves quickly there is a very good chance the $22 calls for 7/21 expiry will double. I always shoot for slightly more than 100% plus all commish costs and if you get it very quickly then take at least half the trade away. The target is still 23.40 on GDX so it would be a HUGE mistake to go "all out" if it turns out I wuz right about this trade.
6/22/17 Afternoon update: This limit sell did not execute but GDX is still a hold so I will just cxl the limit and hold.
GDX will either breakout here or fail near 23.50..ish. Now at 23.40. A selloff should be bought...unless the goldbugs panic. And right now they are too skeeerd to buy still. A breakout would get most of them feeling good again. That's all I'm trying to do. :-)
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=gdx&x=57&y=10&time=18&startdate=1%2F4%2F1999&enddate=6%2F12%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
6/23/17 Update: I'd like to see GDX move thru 22.75, otherwise this will be a very short term sell signal coming in here. I'd continue to hold the long position via the $22 strike calls for July expiry. Last trade on the July $22 calls was 1.02 with the bid at .95. That's a 30%+ gain in 2 days so if this was a large $$$ trade I would certainly take 25% of it away.