I have been watching the market back and fill for a couple of days.  If we are to enter the "deflationary" period all the tabloids are calling for we will need gold and silver to break the support here.  Gold 1750 - 80 Silver 39. A few days ago I thought this was a certainty but now I am not sure.  This options maturity week and we can expect some big moves in both directions.  I still like EUO but we have had a big move and it is one thing to hold positions initiated at much better levels and completely another thing to enter into a new position.  I am buying  AGQ around these levels with a close stop in case the market collapses but it is heavily leaveraged and not something for widows and orphans. 

Leave a Reply.