Gold and GLD are in the process of breaking out, suggesting a Minor Wave 5 of Intermediate Wave (3) is underway. We are holding two sets of GLD calls via Premium Service Updates. It's time to roll July (if still held) into September and/or add new position. GLD GLD is up $14 since its Wave 4 low in early June. At that same rate of ascent it would project a Wave 5 target of $240 by late August, $245-250 by Sep expiration. The Fib extension projection is $248-250, close enough to confirm a move into the high $240's over the next 6-10 weeks. Unexpired GLD Calls Note: The July 19th $220C expires this weekend - Roll into Sep 20th $235C New GLD Calls (For additional exposure) At GLD $250, the Sep 20th $235C is up 3X-4X, depending on on long it takes to complete Wave 5. Gold Futures Gold Futures breakout above $2500 would all but confirm new leg up.
