A quick note to how well Gold has rebounded today as GLD fell from its high last Thursday at $247.37 to a low yesterday at $242.50, and today back up to $246.84 at it peak, so far. This is good action and as the chart below suggests, much higher prices are expected in the weeks and months ahead. Insofar as the Nov expiration calls crossed the 100% threshold, they are now subject to a 50% trailing stop, which kicks in around +70%. To be safe, lets make sure we exit this position with at least a 50% gain. If stopped, we will reassess, but GLD looks to be headed for $300 early next year. GLD GLD - Next Leg GLD Big Picture
