Registered: Dec 2011
08-13-12 04:09 PM
Had another look at the attached GLD chart, and for the last 3 years there's not only been Autumn rallies into December, but also Winter rallies into March.
Based on those seasonal patterns, plus the dollar's current high level and the good chance of more money printing coming soon, I decided not to wait for a breakout above 160.
Started a long single option position today with a GLD March 175 Call.
Now we'll "wait and see" about that Breakout, for some confirmation.