Bigworld, Looks like good timing with those AG and NGD trades. Gold and silver were definitely due for a bounce.
Chart-wise, the 200 MA for gold is 1250, so that could be an near term target. The silver chart was more oversold, with its 200 MA way up around 17.80, so it may not make it that far in this move.
The silver ETF (SLV) may be a good tool to watch. It's up to 15.84 and the 50 MA is currently 16.56, so that could be a good near term target, barring any renewed Fedster suppression.
Beyond that is the 200 MA at 16.89.
Looking at the gold ETF (GLD), it's at 117.43 and the 50 MA is 118.62 and 200 MA is 119.16, so those are good near term targets to watch.
I'm not sure about Rinear's idea of rolling the profits into another contract though. Sometimes it's better to just take the money/profit and run, lol. I'm not that well versed in options, but the 'rolling' idea might work best during a sustained up trend, and the metals always seem to have trouble maintaining a sustained up move for very long. The vicious smack down phase always arrives eventually, and the options profits could thus evaporate quickly. The Fedsters' goal seems to be to never allow a sustained up trend to last for long.
