A couple of weeks ago, we wrote an article about Gold being in a very bullish classic bullish triangle pattern. We said it would take a few days or weeks to get the prices above 315 on GLD. Here we are. If this is a genuine breakout (we believe it is), GLD should rise to a minimum target of 335.
We recommended to buy December calls. We did. We are holding them.
Techical tools are not the holy grail; they are a tool box helping us to achieve what we want.
Dennis
