Is it breakout of fake out time for gold? Jeff Kohler cites $730 as the fulcrum buy point in his blog. The "Option Addict" rarely mentions metals or commodities, so it is more interesting than the steady drumbeat of buy-buy-buy from some of the perma bulls on other sites. Kohler mentiones the five year chart, though the 2-year chart highlights a beautiful text book base. These kind of chart formations can fuel a big bull run, so stay tuned.
Elsewhere, I am tempted to sell a strangle (both a put and a call) on IWM (index fund), but have second thoughts. This would be a bet that the index would stay in a trading range.
Still 100% in cash in my main trading account. Bull? Bear? How about chicken?
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