This morning's dip in Silver was enough to. take prices below our 50% trailing stop levels. Absent a robust rally into the close, at least half the position should be closed to protect what are still massive gains. My job turns to looking for new entries once this correction in an ongoing Gold & Silver bull market resumes. Whatever calls are not exited, plan to carry them into expiration, if possible. Under no circumstances allow them to expire worthless. In fact, use your entry price as the drop dead stop now, meaning breakeven on whatever calls are held toward expiration. PRO Service - Precious Metal Calls Money management says exit at least half our positions now, the remainder before they can fall below breakeven. Spot Silver I don't trust this knee-jerk decline, being attributed now to the naming of a new Fed Chairman, one bit. Traditional EW theory allows for a retracement to the area of the previous fourth wave, in this case $85-88. Nonetheless, any drop in Spot Silver to below $90 and I'm out of whatever Silver calls I have left. TSLA HEADS-UP I'm buying TSLA calls aggressively again, starting with the March 20th $500C. It's not an official recommendation yet, not until I can write-up the basis for my re-ignited bullishness. Look for it in this coming Weekend Update, due out Saturday. Hint: Click on link embedded in title above. Late Add: If TSLA trades above $440 today, let's make that Mar 20th $500C an official recommendation for this PRO Service. We will be buying April or later in the Premium Service with tomorrow's Weekend Alert.
