Gold and Silver are down between 5% (GLD) and 10% (SLV) with today's deep dive off of.last week's all time highs. We are in the "pure money management" phase of riding this bull market, having just a couple of trading sessions ago banked half of our October profits, rolling over the remainder into Dec expirations. Unexpired Precious Metal Positions SLV Dec $40C is trading below its 50% trailing stop, as is NEM Nov $55C. Still holding out, i.e., not yet stopped, are the two GLD positions, Dec $420C and Nov $350C. Note that the Dec rollovers were of half the proceeds from Oct 17th expiration, shown below as a completed GLD trade from August 4th, returning over 1200% GLD OCT 17th Exp These numbers above are based on my tracking of the the indicated trades, ergo individual specifics will vary, up or down, but the general performance numbers should be close. Keep an eye on the two positions in the first table above sill active, but closing on on their respective stops. If hit, exit these positions as well, in whole in in part, with the expectation to redeploy the proceeds when the current retracement is complete. Is there enough fear in the current precious metals market to mark a low? Your guess is as good as mine, but my charts are suggesting it's not there yet, but it's getting there: Gold Hourly This hourly chart of Gold labels the run up from $3,300 in late August to $4380 double top in mid-October as a completed Wave 5 (or 3 of 5), followed by a partial or near complete ABC retracement. The first Fib retracement of 38.2% (not shown) comes in right around $4,000, or just a tad bit lower from current prices. "It's not dark yet, but its getting there." The line is the concluding part of the chorus in Bob Dylan's 1997 song "Not Dark Yet," appearing after lines about the shadows falling and feeling like there's no room to be anywhere It can be used to describe a situation that is improving or nearing completion, but not quite there yet.
