The U.S. stock market is getting to a point where some bearish call spreads may be in order. My thinking is to use major indexes like the DJIA, S & P 500 and the like. I’m currently looking for the right option vehicles and of course the entry point so stay tuned. I mentioned in my weekend update that I thought this time around gold could get above $940 and stay there. We got the first part right. A very good Comex floor source of mine says that for the first time in quite awhile, the locals think the shorts could see this market get away from them. They feel this can occur if we can close above $950 or so at weeks-end. I concur so stay tuned. If only that commodity newsletter guy with the awful gold record didn’t go long. Hey, even a blind squirrel can find a nut now and then. (more)
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