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RE: "Physical" gold is for suckas....buy paper gold.... here's why.
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.