Gold and Silver both had a big week and we entered a Sept 170 Call on GLD Friday that returned 41.38% within 3 hours, and still has room.
All the gold stocks did well, and Gold approaches it's $1000.00 top, with Silver performing even better. $1000.00 ( or 100.00 for GLD) is a major resistance area, and should be watched. If GLD can hold above $1000, both gold mining and gold bullion could fare well.
We also entered three new stock trades last week as the market hit lows. We're watching SLV, which rose to its highest level on heavy volume last week, and recommend a new buy to SLV or SSRI if you do not own inventory.
We already hold GLD. If SLV or SSRI are able to maintain their bullish stance against the USD, and some loss of confidence that stocks can go any higher, we could have a good trade.
Note in the Pnf Chart that SLV has held well above its 50 day moving average, and hit a double top. We'd buy dips, and continue adding.
