Loading ...When–in Dec 2015-Jan 2016–there was talk of 700 to 900 buck gold going around and the HUI was a C-note, no one could have imagained that CDE would go from 1.56 tp 15+ bucks. Then, there were no signs that any upside was immenant.
The past month or so, we have had some sudden intra-day surges in gold-I call em Vesuvian tremors. The stock mkt has finally begun to look a bit shaky–tax reform looks to be a heavily discounted non-event–and even the most benighted individual investor is aware of the “everything bubble”–the prime example being Bitcoin…so when we get surprise moves like we got on Friday, the attention of the heaviest hitters is gotten–from Blackrock and Calpers to Herbie Homeowner and Larry Lawnmower with their little 401Ks and 20G Ameri-Trade accounts–the potential to panic is immense throughout all classes of investors
As for me, I will look to be playing the weekly JNUG calls-like the Nov 24s–Dec 1s-Dec 8s-Dec 15ths—I know it seems hopeless for gold–but I wouldn’t be surprised to see it erupt one day and “do a Bitcoin”-be up an ole 200-400 in a week or twos’ time-bottom fishing is good risk/reward currently—JMO DYOD