The Apr 17th GLD calls we bought on Feb 5th expire tomorrow. It's time to roll over into Jun. Note that those calls are up over 500% as of mid-day, meaning every $1,000 placed into this trade in early February is now worth $6,200. Accordingly, I am banking some of that gain, up to half, and rolling over the remainder into the GLD Jun $320C, currently trading at 7.10-7.25. GLD Daily Stock Indices The story this week has been all about Gold, but the stock market is lurking in background, perilously close to breaking down. When it does, we will be bolstering short positions with new index puts and/or SQQQ calls. Look at this space for further updates. The next leg should be vicious and last weeks to months. Waiting for a new Sell Alert before going all in is recommended. QQQ 2 Hr A QQQ close below today's low @ 446.10 will be the first indication that the breakdown is beginning, below 435 strong evidence that 402 (Apr 7th low) is in crosshairs. SQQQ A test of the April QQQ lows - and April SQQQ highs, is coming, along with exponential returns on SQQQ calls. Here are the SQQQ calls (Prices updated @ 11:11 MST) that look best to me in terms of risk:reward with 30 days to expiration. If market were to breakdown today or tomorrow, I will be buying the highlighted strike ($45). LATE EDIT - With two hours to go in Wednesday's Session QQQ has just taken out its daily low and is trading below 444. It's time to add SQQQ calls to the mix as per the above option table (prices updated 11:11 MST).
