RM's occasional market calls...

Adding more GLD puts right here.... GLD= $141.59, limits in in case it goes even higher...

 

Rm and surf are two of the most openly flawed but sanest people on et. Refreshing. GL to both.

 

How would you gauge whether gold has bottomed? that panic had a lot of volume and a media frenzy, it seems that a lot of funds puked during that sell-off

 

I've decided to get in on this, but with the Jun 138 puts.

 

Seems like a huge mistake to me, the short sellers sold gold that they can never deliver in June, it was a highly speculative short that was unwound quickly, there is really no fundamental reason for gold to tank.

I'd be very surprised if gold made a new 52 wk low in the weeks ahead.

 

gold doesnt have fundamentals lol.

 

The best remedy for high prices is higher prices. I would wait till $1480-$1500 to position.

 

Yes they do. Central banks hold them as reserves.

 

That's where I REALLY put on the size!

 

BSD never PMed me! Silver lining is now I won't feel as bad if our positions go to hell.