Next will be around 2.30/2.25...after testing the 200MA the pps now is totally plunging right now but will re-test the 2.60/2.70 area...Time to buy by accumulation again.
Good luck to you...I would rather trade daily PAL like I did today and work with my average on a daily basis...
I have now an average at 2.28~ after selling twice at 2.33 and 2.31 and bought at 2.18.
Talking about buying from 2+ to 1 is unrealistic but possible so.
This Greek tragedy has all the markings of a manufactured George Soros special. This is the guy who by manipulating the British press in the 90's made a BILLION DOLLARS in one day as there was a panic. I smell the same. See the Bloomberg quote below. Now if he is doing this with gold, what do you think he is doing with pt/pl? Why I think ... BUYING NOW TOO ... BIG TIME... after spooking the prices down!
FROM BLOMMBERG 05/16/12:
"Billionaire investor George Soros raised his stake in the SPDR Gold Trust, the biggest exchange-traded product backed by bullion, according to a filing yesterday reflecting first- quarter holdings." end
True - you need to right on both the timing and direction, not just the direction. That's why I suggested out to Jan 2013. If it isn't clear they are going to make it by then , they won't at all. IF you use the 2.00 you get a little value but less leverage than the 3.00. Of course you could go out to Jan 2014 and forget it. Go away. Have a life. Come back in 18 months. Hmmm? Maybe I'll try that. :-)
A $3 Jan call is not risk free, though. I got burned on quite a few "sure-thing" PAL calls in the last 12 months. I'm still nibbling here and there (looking at the $2 calls at the moment). But there is something to be said for not having to count on the moves happening by a specific date.
If you have the cash handy, $2.2 is pretty cheep.