gold newsletter - tag category postings

Ok today is Friday June 26, 2009.  I have been watching the gold price for quite some time now.  It has been quite a journey and certainly the volatility of last year and into this year has been nothing short of amazing.  The gold market has really tried to do a good job of discouraging everyone from noticing it.  And for the most part I think it has succeeded.

But now it is time to put my finger on the chopping block and make the first recommendation of the letsgold video newsletter.

I am going to use this post here at letsgold.com to initiate the first recommendation of the letsgold.com video newsletter.   The letsgold.com newsletter is not quite live as of yet although I do have links to the signup page and a few banners throughout this site promoting it.  I expect it to go live hopefully by the end of this weekend assuming I can work out all of the technical kinks.

But since this is the first recommendation of the letsgold.com newsletter I wanted to make it a public post to get things off the ground here.  All future recommendations will only be posted in the members area.  A duplicate of this recommendation will be posted and recorded in the members area of letsgold along with some video coverage of the thinking behind it.

The recommendation is:

1. Go Long the GLD etf this morning (it closed yesterday at 92.29) at the market open with a protective stop loss set at 89.75. Assuming the stop loss is not triggered in the weeks ahead, then a 10% trailing stop will be initiated soon thereafter. We will have to see what the market opening price is and I will update it right here in this post at 9:30 am. Right now it is 9:09 am.
2. The second and third recommendations fall in the ‘most speculative’ category. The second recommendation is to go long the DGP this morning at market open with a protective stop loss set at 19.00. No trailing stop will be initiated at this time.
3. Lastly, and also in the most speculative category is to go long the December 2009 GLD 100 Calls at the open. As of yesterday they were trading around 4.00. This one will require more careful watching. But for now as long as GLD does not break back down under 92.30, this GLD call should be held.

Ok there you have it. The first recommendation of the letsgold.com video newsletter.  I am going to put up the first video in the members area going into a bit more detail about my thinking behind these trades, but again the members area is not quite live yet.  Give me until the end of this weekend, early next week and it should be good to go.  I will post in here when we are ready to go live.

Ok, it is 9:30 am now. The open on the GLD is 92.80, and the open on the DGP is 20.47. The ask on the GLD December 100 calls is 4.20, so I am going to mark 4.20 as the entry price.

Ok that’s it for now.

God Speed to all of you.