Quote:
Originally posted by TyFenn
Ouch!!!! $566 gold.
Someone is losing some SERIOUS money...
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I bought some GG and GSS Call options yesterday -- they were down this morning, but recovered nicely in the afternoon.
Bought GSS shares in the Roth IRA (can't trade options there) at a price lower than some of the insiders bought last week.
I'll probably take any quick profits I see in the options, but will plan on holding GSS longer term.
Gold could shake out some more, but nothing has changed with the world's fiat currencies. There are signs the whole system will be reaching a breaking point soon. Consider (You'll need a subscription to the WSJ to get this article):
http://online.wsj.com/article/SB115915177853972817.html
The article is titled "U.S. Foreign Debt Shows Its Teeth As Rates Climb, Net Payments Remain Small But Pose Long-Term Threat To Nation's Living Standards." It's in the Sept. 25 paper.
If anyone is really interested in reading it and does not have a WSJ subscription, I can email you a link that you'll be able to access for 7 days. (First come, first serve; I'll only do that for the first 2-3 requests.)