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Posts Tagged ‘Gold prices’

Gold and Silver Real Winners in August

Wednesday, August 29th, 2012

12:10pm (EST)

It’s been another boring day on Wall Street but an exciting one for our portfolio.  As the tight trading range continues, we will have to entertain ourselves with earnings and economic news until Big Ben speaks on Friday.

Joy Global (JOY, $50.78, down $2.29) is down 4% after reporting earnings that missed Wall Street’s expectations.  The company reported a profit of $194 million, or $1.82 a share, on revenue of $1.39 billion.  The suit-and-ties were looking for $1.88 a share on $1.42 billion in sales.  The company also lowered its outlook for the rest of the year. 

We talk about gold and silver from time to time and this month both metals have surged to possible new breakout levels.  Gold did a great job in holding the $1,550 level all summer and has broken through its downtrend line from 2011 as it pushes $1,700 an ounce.  This could be a false breakout but if support holds there could be a run to $1,800 coming.  Watch the $1,650 level for a possible reversal signal and a move below $1,600 again would be bearish.  Gold is currently down $11 to $1,658 an O.    

Here is the chart for silver which has made a strong recovery off the $26 lows which has served as solid support.  As you can see from the 2-tear chart, a move to $34 appears to be in the cards over the near-term but the pullback in February is also reminding us silver could be topping.  Silver is currently down 15 cents to $30.73.

We have a lot more stuff to talk about but we are more interested in our option trades so we will leave it there for now.

The Dow is up 4 points to 13,107 while the S&P 500 is higher by a point to 1,410.  The Nasdaq is lower by a half-point to 3,076.

Our subscribers locked-in huge profits this morning on our current WellPoint (WLP, $61.90, up $4.51) call option trade which is showing a gain of nearly 250%.  We also have another trade that is pushing an 80% profit as well.  Although we have targeted a 100% return for this blue-chip trade, we also want to lock-in HALF profits on our Caterpillar (CAT, $84.73, down $1.28) put options as shares have slipped below $85.

Subscribers, check the Members Area for the updates.

Market Rallies to Resistance

Wednesday, May 30th, 2012

9:00am (EST)

The headlines favored the bears but it was the bulls that started the week with the momentum.  Much of the initial excitement was due to China and Greece, which seemed less likely to leave the euro as soon as some have predicted, but a downgrade of Spain (once again) nearly ruined the party.  This crushed the euro and pushed the dollar to 2-year highs.

For those of you that subscribe to our Weekly Wrap, we said the best way to play a rising dollar would be the PowerShares DB US Dollar Index Bullish (UUP, $22.80, down $0.02).  Those looking to short the euro could use the CurrencyShares Euro Trust (FXE, $124.36, down $0.12) which has fallen over $3 since our update.  Both index funds trade options.

Gold ($1,556 oz., down $13), which was doing well, saw a sharp selloff after trading up to $1,584.  We have said we expect gold to test $1,450 before reclaiming $1,600 but we like the yellow metal at these levels. 

Oil spiked lower on the news before finishing flat at just under $91 a barrel.  (continued…)

Volatility Picks Up After Bulls Push Higher

Tuesday, January 4th, 2011

12:20pm (EST)

The market started off in positive territory but has given up most of its gains as we heads towards the second half of trading.  There is a lot going on that is causing a little volatility but for the most part, the market is holding up well.

Oil is down $2 to under $90 a barrel but appears to be going to $100 which would be bad for consumers.

Gold is down nearly $40 to $1,383/ ounce, while Silver is off over $1 to just under $30/ ounce.

As a result, the Dow is lower by 3 points to 11,667 while the S&P 500 is down by 5 points to 1,266.  The Nasdaq is down 18 points to 2,673.

We have a lot to talk about in our Members Area so we are short on time.  We have 2 NEW TRADES opening and we are closing our first profitable trade for 2011.  Subscribers, check for the important updates.

We will be back Wednesday morning with a full update.

MomentumOptionsTrading.com Weekly Wrap for 6/20/10

Sunday, June 20th, 2010

10:10pm (EST)

The bulls continued their comeback by scoring their second weekly win as the market broke key resistance levels and held them.  There was little excitement on Friday as the major indexes bounced around the flat line for most of the day.

The Dow finished with a gain of 16 points, or 0.2%, and closed at 10,450.  The index got a big pop on Tuesday by adding 215 points and for the week the Dow tacked on 239 points, or 2.3%.  The move above 10,400 was important for the bulls as they set their target on 10,600 and maybe 10,800 afterwards.

The S&P 500 ended with a little over a point gain to settle at 1,117 but jumped 35 points, or 2.4%, for the week.  The break over the 1,100 level was another sign the bulls aren’t ready to retire.  The next assault level will be 1,125 first, then 1,150.  More on this in a minute…

The Nasdaq advanced 2 points on Friday and closed at 2,309 but soared 65 points, or 3%, for the week.  The index looks like it could run to 2,425 over the short-term if the bulls can continue to push. 

The week also saw Gold prices set back-to-back days of record highs and settled at $1,258 an ounce.  The yellow metal touched an intra-day high $1,263 on Friday after a nice surge on Thursday.  

Gold advanced 2.3% for the five days and was its fourth straight week-over-week advance.  While it is easy to speculate Gold could hit $1,300 an ounce, quickly, it just still looks like a crowded trade to us.   

The Euro was last seen trading at $1.236 and hit a high of $1.241 on Friday which marked its strongest level since late May.  The Euro has risen from a four-year low of $1.188 back on June 7 and has been the main reason the bulls have rallied.  

The $1.180 level for the Euro held which was where the currency ended its first day of trading back in January 1999.  The 10-year average for the Euro against the Dollar is $1.20 so this level should act as support going forward.  However, the results of the ”stress tests”, which measures a bank’s financial stability, on Europe’s 25 biggest banks will become crucial in July and could make or break the currency. 

As far as the current outlook, the bulls could continue to run the major averages higher and they got some good news over the weekend.  China said that it plans to let its currency fluctuate which could benefit stocks over the near-term.  There has been a lot of water-cooler talk on whether China manipulates its currency but a stronger Yuan helps China offset inflation.

There is still a chance this is a “head fake” rally as there was plenty of negative economic news last week from housing to jobs.  However, we could see buying until the end of June as fund managers and end of quarter “window dressing” comes into play.  Still, the bears cannot be ignored and we are planning for a slight correction by mid-July before the market resumes its higher trend into the back half of the year.

We will be back at 9am Monday morning with a look at earnings and economic news for the week.  We may also profile a NEW TRADE to take advantage of any short-term bounce and on our Watch List we take a look at Vivus (VVUS, $10.05, down $0.55).



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    Here are our biggest recommendations for 2013 so far: +367 on REGN call options +173% on BGFV call options +140 on SCTY call options +178 on SNE call options +128% on SNE call options

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Trader Comments:
    I just want you to know that I love the way you write and explain everything. I am new to this, and have lost 50% of my account until I met you guys. Iit is slowly coming back. I will be calling to set up a year of membership rather than the one quarter. Thanks again, and LOVE YOU ALL. REGINA L.

    Rick, I appreciate the advice. I think I will just sit back and utilize your selections only for awhile. This will obviously save me a great deal of money in commissions. I have gone thru your entire site including the video on money management. This has brought me to the stark realization that I have been trading too much for too little. I definitely have not been "swinging for the fences", but I also think I have been getting impatient with trades and getting out too fast. This has no doubt caused me too trade too much. I like, and definitely agree on, the advice on money management. Thanks for the help. STEVE T.

    Thank you!!! I held on to the NFLX position since Nov. 13 at a cost of $1.89. Sold ½ on April 14th for a 540% return and the other ½ upon earnings for 702% return. Total profit of $11,615 a 621% return. Keep the recommendations coming and thanks to you and your team for the service you provide. SCOTT H.

    Rick & Team, GREAT Call on NKE for my two trading accounts:
    1) Entry at .65, out at 1.45, 1.55 Profit = $415
    2) Entry at .60, out at 1.75, 1.50 Profit = $485 PETER G.

    Hey Rick! Here is an update on what your picks have done in my accounts.

    1) Great call on the JoyG March 55. I bought when you said, then bought again on one of the dips. Booked 80+% profit. Made enough to pay for your service for years to come.

    2) Also booked profits on your Berk Feb 74 (80%) and threw a major chunk of change at the March 75’s (190+%). I would have never known that Buffet's stock had split if it weren’t for your service. Bought the shares also for the long haul. Won’t look at them for another 20 years. Great job on getting us in before the indexes did.

    3) Took profit on your Imax March 12.5. 20 cent trailing stop at 1.90 yesterday. Not sure what the profit on that was, but profit is profit.

    I see that you took a loss on some of these. It’s all good. I look to trade your “ideas” not your exact calls. I THANK YOU! For your ideas and commentary. Keep up the good work. And keep those ideas coming. LAWRENCE O.

    Loving this subscription so far! I got into the BRK feb 76 calls the day you talked about right before the split...now up over 300% (0.70 to 2.475)! Keep the good picks coming and let's see some OSIS and EMC upside soon! Just wanted to share my positive enthusiasm on your newsletter...it gives us individual investors great ideas on not only the options market, but also the broader equity market! Case in point is BRK...I can't always read the breaking business news but its easy to read your twice daily updates on my smartphone...helped me get some BRK shares immediately after the split which I will hold for the long haul! Thanks again! C.J.

    Aloha Rick - Thank you so much for the great CL pick. I am not sure if there was buy-out/merger news or what but at 3PM today Colgate-Palmolive absolutely EXPLODED to the upside, and my calls turned into green candy when they went from 1.40 to 3.8 in a matter of seconds! I even sold a few for over 4.0! Much thanks and keep the solid picks up my friend, honestly. Only a fool would scoff at 267% gains... Peace! SHAUN

    I like the fact that you ask for comments from subscribers. Good customer service. By the way, am enjoying the service so far. Some good profitable calls. Keep up the good work. MICHAEL K.

    Woo hoo! Out for 50% on WMT this am. Making up for my depression for getting out of pcln for a 30% gain monday :( you the man! any word on the manual? My friend Mike ( who I sent to your service) told me he emailed you about your integrity in reporting fills. I echo that sentiment big time.. keep it up! Cheers!
    PARAG P.

    Hi Rick, as a new member all I can say is, 'show off' LOL, with PCLN. JAY P.

    Rick, I am a new subscriber to your service, and I want to say I am impressed. I am impressed by your results, but more than that I am impressed by your reporting of your fills. You could have easily said you got that Wal-Mart call today for 80 cents, instead you reported 98 cents! Good job and keep it up, I watched the reporting of the fills first, and then I subscribed. Thank You. MIKE

    Hi, good morning. I jumped the gun a little on this one (PCLN). But still made $1,675.00 profit!! Very happy!! Keep up the good work!! Thanks. TRISH D.

    Hi there, I have joined recently, and I am very happy to tell you that I am up over $10,000 on your picks in a month. I started on 10/7 with the Intel pick. I'll be your member for life. Please don't quit on us. Also, I am learning a lot about options. I didn’t get in your recent APOL and that gold trade and only had one loss on CHK. I appreciate all the DD you do. I enjoy your market commentaries. Best advice site period, and I have tried a few here and there. Again, you guys rock! MIN L.

    Thanks be to Momentum Options Trading for providing me with some fantastic wins. I just started with this service and am up nearly 50% in less than a month. There have been losses, but if I manage them properly, I will continue the best efforts given on the blog (in which there are no complaints). What a great cause for humanity. I feel more confident about my trades and continue to play the wins. Best of all, I am now keeping my regular paychecks in the bank! Thank you! JOE G.

    Rick - I wanted to say thanks for getting me started on the right foot with your service. I have made six trades since starting on October 22, 2009. Five are winners and One loser netting me $6,245. Thanks again and keep the trade recommendations coming. GREG F.

    I got into the Nike 60 Call at 1.85, sold at 5.00, also bought a 55 put at 1.05, but got stopped out at .35. What a ride! $2830.00 in the black even with the put. It's right at 100% return. I hope earnings season coming up is going to look like this trade. NOEL

    Nice call on Nike. I think I'll go buy a pair with my profits! : ) I did the straddle for safety but still made 62% on the trade. Not bad for less than 24 hours. If Goldman is right, then the Nov 70s or 75's could be a steal today. TODD F.

    What a sweet way to get introduced to Momentum. My first trade based on your picks and it a 2X. Thank you! PAUL H.

    “Limit order was set at 1.60 on RIMM so it sold. I may have left some money on the table but you can't go broke making a profit. That was a fun trade. Thank you. Good call. I’ve been watching and trading Rick's advice since March. It’s usually a fun ride, but I give him heck when it's wrong to. :) ” NOEL

    “Your service rocks! I made bank on Dendreon last week! The other thing I have to say is that it took me quite a while to find a REAL options trading service like yours. Most of what’s out there is 99% scam and very sketchy. Momentum Options Trading is the first service I found that I can trust and seriously make money with.” CHRISTIAN

    “I made $420.00 on ANF in 2 days. Thanks for the trade and updates on getting out of the trade.” JOHN

    “I did follow a lot of your trades with 1-2 contracts per trade and YTD I’m up 108%. I try not to follow blindly by not entering all of your trades and sometimes entering the ones you don’t. I entered AIG a few weeks ago against recommendation – that one hurt.” CHARLES M.

    “I have been following you for several months and am interested in the new service. I hate to see the free service go away but as they say, “all good things must come to an end”. My ability to join will be greatly influenced by the monthly fee so I’m very curious to see the new prices. Thanks for making April a great month for me and my family.” BRYAN C.

    “I have really enjoyed the past month since finding your blog. You have made some great calls. I would appreciate info. on the new options mentoring program. Thanks.” JOHN H.

    “Hi Rick, I have been following your blog for several months now and I would like to be including on the list for your new service and to receive more information about it. And yes I was a Dendreon winner with your tips. Turned $280 into $7700, and literally saved my butt.” JEFFREY

    “I made over 6k on your Dendreon trade, and I’m very interested in learning how you pick and trade options. Sign me up.” ED

    “Rick – Wow what a day! I got in at the Dendreon calls at $2.25. Thanks to for your advice. I appreciate that. This company has a lock on this type of therapy and no one else in the world is close. Kind of reminds me of the type of companies that Peter Lynch and Warren Buffet suggest that investments be made in. Companies that can build a moat around their business model, that allows them to charge a premium for their product or service. In other words - a monopoly.” GREG

    “Hi Rick, Thank you so much for the Dendreon trade, I made almost $10,000 with that trade with a little over $2,000 investment. You have shown me the power of options trading. Again, thank you so much for all your inputs.” KEN

    “Hi Rick, thanks for the encouragement to play the dendreon calls! did freaking great! Got in the first lot at $1.44 on 3-24-09, sold at $2.45, 70% not bad. Bought it back at $2.30 on 4-7-09 closed out on 4-14-09 for 454% gain! Wow! I love it when that happens. So, thanks the encouragement to get back in when others were saying sell, sell, sell. Keep up the good work.” GARETT

    “Rick – Thanks for Dendreon – it has made all the headlines today! I missed on RIMM earlier, but I’ve been holding onto DNDN calls since 3rd week March. Of course today it all paid off today, as DNDN rocketed up.” TERENCE

    Jan. 31 2012
    Rick, new member...Studied all current trades, did some chart work,picked ZNGA, PEP, MGM...Sold on Feb. 2 for $3600.00 profit...Cost for 1-year membership to your newsletter was less than $1000.00..All I have to say..Thank you. John H –

    3/18/11
    Rick, I purchased 10 contracts of the Nike March 85 puts Thursday afternoon for $2.00. Thing is, I was upset because the puts went down to $1.60 or so before the market closed. Well, needless to say Nike didn’t impress Wall Street and when I turned on the computer this morning the puts were worth $7.10! Sold them for a $5,100 profit!. Thanks again, you are the MAN. Chuck J-

    2/3/12
    Hi Rick,

    I will start off with a thank you for your time and dedication to all
    the research you and your team commit yourself to. This is not me just being excited about the profits I have accumulated aka (bank) ! You have helped me get back to the passion I had of researching stocks/options. Keith N-

    Hi Rick,

    I want to share my great results on GMCR. Based on your comments on February 15th, I bought 20 options at $0.28. They closed today at $7.00, which is a 2,300% gain. My $560 dollars turned into $14,000 in less than a month. In decades of trading, this is my single best trade ever. Thank you! By the way, the Dow was down 228 points today and I could care less. What a great trade. It proves the amazing power of options. I am so grateful for your service, which calls it straight all the time, your options trading manual, and most of all, your amazing skill
    at finding winning trades. I have attached a copy of the trade from
    my brokerage screen.

    Hi Rick,

    Wow!! my account it up 70% since i joined last month and market is going the opposite direction. Really appreciate your service. I just wanted to drop a note to say THANK YOU. Hope to be with you guys for a very long time. Mel

    Rick,

    Great call on Fosl I bought the may 120 puts for 3.70 yesterday morning just sold for $32.00 today
    Keep up the great work
    Thank you, Henri

    Rick –

    I bought 10 Deckers Outdoor (DECK) May 55 puts at $0.50 on 4/26/12 and sold them on 4/27/12 for $1.65. I made $1150 in one day. Thanks. I knew something good would happen sooner or later.
    HOW THE HECK did you know Green Mountain Coffee (GMCR) was going to go down 20 points???!!!! I bought 10 of the May 35 puts at $0.49 and then 5 more at .30. I sold them at 5.80. Thank you again.
    You have made a believer out of me. Alan

    Rick –
    I have only been a member for about 6 weeks but I have done well on most of the trades. My first two were QQQ and SPY a month ago and since then I've gotten into the groove and been doing well.
    I try to execute the trades that you recommend as soon as you send them out, sometimes I can't and I miss the Entry price. However, sometimes when I miss the Entry, the price goes down and I get a better price.
    That's exactly what happened with GMCR.
    You recommended it at around $.81 I think, but by the time I got to it, the price was $.27. I bought 100 Puts on Wednesday May 2, 2012 and sold half of them 24 hours later at $5.95 for a nice 2,203% gain. As per your recommendation, as GMCR went above $30 I sold the remaining 50 Puts at $5.50 for a slightly less 2,037% gain.
    On average that one trade netted me a 2,120% gain, entirely based on YOUR recommendation (and a little bit of luck). To put this in real terms, I risked $2,700 on Wednesday and pocketed $54,550 just 24 hours later.
    So uhh, let's do that again real soon!!
    Feel free to use my name. The tax guys have me on speed-dial already anyway. Dennis

    Rick:
    That was awesome on your GMCR pick, I know how risky it can been holding into earnings but you pulled it off. 
    I just started my autotrading with you today and am in on your QQQ play. I look forward this service. 
    I have a busy career and I have tried to follow and trade throughout the day and found it too hard. I hope you continue to have a great year, I plan to go along for the ride. I am starting slow but will pile more in once I have secured some profits. 
    Keep up the good work your trading has been spot on. I am sure you paid your dues to get this point in your career. Anthony

    Rick:

    Great call on GMCR!  I have been trading for about 15 years actively.  This may be the best trade I ever made.  Got in on Monday, April 30 and the stock was up from when you recommended it.  It went up further after I got in.  Here are the facts:
    Monday, April 30th: Bought 15 June 37's at $1.25= $1900 approx
    Thursday, May 3rd: Sold 15 June 37's at $9.30=$13,950
    Gain for the week: $12,050.
    I understand you will not get them all right.  It’s important to ride those winners and as you could tell from my selling price, I sold when the stock went to $28.10, so left a little on the table.  Who can complain.
    Keep the suggestions coming, looking for another jump on your FSLR, one that I have been riding very hard.
    Best regards, Bob
      

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