The past two trading sessions have seen our trade management parameters kick-in with a vengeance. By now, we are mostly on the sidelines with only small positions left, "just in case" positions, while we look for our next trades. Sometimes its a tough pill to swallow, but its part of the game. There are more opportunities coming, starting with a new, hard look at gold with a classic "throw-over" top pattern. While everyone was piling in, we were rolling some gains into June and banking generous profits in April. Now its time to look the other way. GLD Daily Classic throw-over above and drop back into channel. Target is now the bottom of the channel, minimum, toward previous Wave iv @ $270-275. GLD 30 MInute May GLD Puts More aggressive but preferred play. Jun GLD Puts Allows more time for the $270's to unfold. TRADE MANAGEMENT Hard Stop @ -50% At +50% Move Hard stop to Break-Even (optional) +100% Triggers 50% Trailing Stop (from Best Return)
