Forget the hedging. But remember there are no guarantees. The bottom is in!
There was no fundamental reality to the recent decline in gold. Rather, the long side just got crowded and many new believers with pockets too deep ended up having a spiritual experience. So let's cut to the chase. Gold is going up from here to $480 and beyond. The train is pulling out of the station and if you are not on it - shame on you.
For those who aren't risk averse what do you have to lose on an option that costs $200 or $700. So if you want to swing, spend your $200 or $700 and get a June 430 call option or an August $430 call.
Look at how the put I published almost daily on gold $400 put did when gold was in the high $420s and low $430s. Well is a $430 call here any more stupid looking than a $400 put was when gold was trading at $430. That little baby went from around $2 to around $11 and in three days it caught fire.
Now please realize that 100% of what you wager is a risk so be careful even though it is so cheap. Why not own "ONE" of each - a June $430 call and an August $430 call for a total price and risk under $1,000.
Morgan was the $399 big buyer. COT is going to take gold to $480 and above and Morgan is buying the tip off.
Silver made its low in my opinion and will now try for $7.90 and $8.40 but I doubt it will better its high for a while. The buyer from 7.10 to 7.19 was European.
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