Re: Gold puts

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Re: Gold puts

In Response To: Re: Gold puts *PIC* ()

Thanks for the input and the great charts!

Here is my initial strategy...hehehe...my dream scenario...

gold drops to 1180 or therebouts as the Chinese come back and sell a bit or whatever...(I have two 1180 puts that expire on the 24th this month, paid 200 ea. Fri.) will sell these IF this happens in the nest coupla days... (I also bought 3 1100 puts that expire on 3/28 btw also for 200 apiece)
anyways...this would initiate the big sell signal...

Then, gold tries to rally back for the next few days, but not taking out the highs of last week....
re-leverage at this point with many puts....way out of the money (as usual as 'the other Wayne' noted, lol) and wait for the major sell off in the next coupla' weeks....

then walk away from the markets and take a nice vacation with the wifey....

Only in my dreams of course...

:-)#