Monday, December 7, 2009

Gold Update

I still believe as I noted last week that gold/silver have more in this correction, reiterating my downside target for gold ($1075). Itz Pix portfolio include Yamana (AUY); Freeport McMoran (FCX); Hecla (HL) and Silver Wheaton (SLW). Yamana has a covered call January $14, which I may suggest buying back, my downside target for AUY is $11. Silver Wheaton has a covered call Dec. $16 strike, downside target for SLW is $12. Both of these open calls are being monitored for possible buy backs to close. As I type the intraday rally in gold is fading $1159.
*click on chart to expand image

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