With the threat of PPI and CPI inflation numbers now in the rear view mirror, at least for another four weeks, we can focus on trends and set-ups for new trades as they make themselves known. The stand out above all right now continues to be GLD (Premium Service) and SLV (PRO Service), which both appear to be in rallies to new highs, either as part of Wave 5's or more bullishly, Wave 3's. In either case, we are in Jun 21st and/or Jul 19th call expirations, subject only to the usual 50% trailing stops: GLD Call Positions Note: Only the Apr 19th entry has hit its 50% trailing stop, while the newest entry, the Jul $220C is already up over 50%, putting its trailing stop at about break-even on the trade, worst case. Absent a steep decline, we will start to look to replace any remaining Jun 21st expirations with Jul-Aug-Sep expirations in the weeks ahead. Take special note of the returns from the March 1st entry in the $195 calls (+400%), as that is in the neighborhood of returns we are looking for in the other calls. New money should always be allocated to the more recent entry which is for now, the Jul 19th expiration: GLD Jul 19th Calls GLD Daily So long as the trend is higher, we will ignore the false alarm red own arrow for now and in fact, will get more bullish should a refreshed blue buy arrow appear on the chart in the days ahead. No such signal appears in the Gold & Silver Futures charts (below). New money should be added to out-of-the-money calls from Jul 19th GLD call table. Gold Futures Silver Silver remains on a Buy Signal triggered on March 13th @ $25.00. It would take a close below $27.50 to turn the picture anything but bullish.
