While we await a reversal in the stock indices, there are other sectors to watch for option opportunities. Yesterday I did a special write-up for the Silver sector in the Blue Line Pro Service and right on cue, both Gold and Silver are having a big up day. This is EXACTLY what I have been waiting for to suggest that the YTD Wave 4 correction is coming to an end. One day's breakout does guarantee that the Wave 4 is over, but it is a huge step in that direction. Note on the charts below that the operative direction has shifted from DOWN to UP. So long as major support lines (blue trendlines) hold, we will be adding to the sector. See today's new pick: GDX, below. Spot Gold - Weekly: The Big Picture Spot Gold - 2-Day Close-Up GLD Weekly Ideally Gold will breakout above both downsloping red trendlines, with each breakout meriting its own tranche of GLD calls. These Sep GLD calls were bought on July 21st, today we can move the stop up to a trailing 50% profit taking stop. Spot Silver 2-Day Slowly, inauspiciously, putting in an intermediate term low Wave C-4. Silver 240 Minute: Closer-Up View Looking for that next breakout > $68 to confirm mega move up is underway. These SLV calls from late June are hanging in there, primed for the new leg up. New Position: GDX Oct Calls GDX - Gold Miners Index: 2-Day GDX Oct 18th $100C This is a sector add insofar as GDX has cleanly broken out of its Wave 4 decline and looks to be headed toward its 2026 high print of $117.18 and likely much higher. Lots of leverage in those $100 October calls. Risk 50%. GDX Monthly: Longer Term Structure A boy can dream. The massive moves up in AI infrastructure stocks is a prelude to what is coming for the precious metals sector. We may be early, but no matter what, we will not miss it.
