Silver is up over 5% on the day, with Gold up just shy of 1%. Thus, the relative strength continues to favor Silver. SLV Mar calls hit a new high today, never triggering its trailing stop level, while Gold has recovered from last week's decline, but not before the GLD* calls fell through their trailing stop levels, toward the end of last month. Premium Service: Current Precious Metals Positions *GLD fell trough its trailing stop in late December. If still holding any GLD calls, they may as well be held into Jan expiration. The Gold chart below has stretched about as high as it can go without cancelling all bearish wave counts, but it still has to clear December's highs to make that happen. Gold Spot On the other hand, SLV is printing new highs: SLV The SLV chart above is clearly breaking out, but the Silver (Spot) chart below says, "not so fast," as it, like the Spot Gold chart, has only risen to its 78% Fibonacci retracement level. Patience says wait for it to follow SLV's breakout, then go all in on way-out-of-the money calls. A Silver close above $85 and expect all hell to break loose to the upside. Otherwise, our trailing stop is at +195%, @ about $11.80 per call. Silver (Spot) March SLV Calls The Premium Service has a deep-in-the-money position in the Mar $55C. So deep in the money that leverage on further upside is diminished. As of mid-session, the Mar $55C is up about 25% on the day, while these out-of-the-money calls are all up at least double that percentage. Accordingly, these Mar strikes above have more percentage return potential, any and all of them, then the $55 strike that we bought on Dec 1st. Roll up, some-to-all, at your convenience. My favorite: SLV Mar $100C.
