GLD Update above I ran a Fibonacci Retracement of the GLD ETF operated by said same SPY Folks - the GLD ETF notorious for holding physical gold only with no leverage via Gold Futures and other paper certificate Swiss and Singapore shenanigans.
New Chart of GLD ABC wave with 5 Subwave B:
https://www.tradingview.com/chart/GLD/Sp...-Subwaves/
Wave 5 is most indeterminant therefore Wv 5 may equal .38 or .50 or .618 as Failed Wave 5 (Shown Wave 1=Wave5) and if failed and closes above current POC likely to make a run to Top of C especially if Dow, S&P, and NASDAQ continue to correct GLD is a flight to safety destination haven
Weekly chart Swing high of GLD ETF was $129.50 in Jan and Retest April 2018 then complete a failed wave 5 with impulsing wave 3 2018 low of 111 in Aug 2018 with a retest of the low in Sept - now seems to be mirroring Peter Schiffs warning alarms (This time) and running up a ABC wave against trend to a 50% Retracement at $120 and .618 retracement at $122.
Therefore as I see GLD ABC wave uptrend confirmed I added the following GLD Call Option to my Watchlist:
Symbol LastPrice$ Change$ Change% Qty PriceWhenAdded DateAdded TotalGain$ TotalGain% Value$
GLD Jun 28 19 $120 Call3.300.4616.20%12.8411/20/201841.0014.44%330.00
GLD Feb 15 19 $120 Call1.310.1210.08%11.1911/20/20188.006.72%131.00
Note longer term June GLD $120 Calls up 14.4% today and Feb 120 Calls only Up 6.7% - I suspect this is because traders listening to the Doom and Gloom warnings of Peter Schiff, Martin Armstrong, Jim Rickards, Doug Casey that Cryptos can be a store of Value as long as their prices are not collapsing yet the three Guarantors of Generational Wealth Preservation through both War and Peace has been productive land to grow food (Farms, Orchards, Vineyards etc., Estates), Old Masters Fine Art and Gold and Silver. As we are at a Top Turning Point of the 40 Year Markets SuperCycle looking at Major Wave impulsing down at a lot of traders not comfortable with shorting Options and Futures will rush to safety being Gold and Large Gold ETFs where they do not have to take physical delivery.
NOTE: These discussions and any associated thread posts are not intended as investment advice in any way shape or form and is mentioned for informational purposes only now that we are entering a Major 40 Year S&P Supercycle Wave 3 to 4 Top Turning Reversal. Seek competent professional advice to determine your risk tolerance before trading Options or Futures contracts. Never invest more than you can afford to lose.
New Chart of GLD ABC wave with 5 Subwave B:
https://www.tradingview.com/chart/GLD/Sp...-Subwaves/
Wave 5 is most indeterminant therefore Wv 5 may equal .38 or .50 or .618 as Failed Wave 5 (Shown Wave 1=Wave5) and if failed and closes above current POC likely to make a run to Top of C especially if Dow, S&P, and NASDAQ continue to correct GLD is a flight to safety destination haven
Weekly chart Swing high of GLD ETF was $129.50 in Jan and Retest April 2018 then complete a failed wave 5 with impulsing wave 3 2018 low of 111 in Aug 2018 with a retest of the low in Sept - now seems to be mirroring Peter Schiffs warning alarms (This time) and running up a ABC wave against trend to a 50% Retracement at $120 and .618 retracement at $122.
Therefore as I see GLD ABC wave uptrend confirmed I added the following GLD Call Option to my Watchlist:
Symbol LastPrice$ Change$ Change% Qty PriceWhenAdded DateAdded TotalGain$ TotalGain% Value$
GLD Jun 28 19 $120 Call3.300.4616.20%12.8411/20/201841.0014.44%330.00
GLD Feb 15 19 $120 Call1.310.1210.08%11.1911/20/20188.006.72%131.00
Note longer term June GLD $120 Calls up 14.4% today and Feb 120 Calls only Up 6.7% - I suspect this is because traders listening to the Doom and Gloom warnings of Peter Schiff, Martin Armstrong, Jim Rickards, Doug Casey that Cryptos can be a store of Value as long as their prices are not collapsing yet the three Guarantors of Generational Wealth Preservation through both War and Peace has been productive land to grow food (Farms, Orchards, Vineyards etc., Estates), Old Masters Fine Art and Gold and Silver. As we are at a Top Turning Point of the 40 Year Markets SuperCycle looking at Major Wave impulsing down at a lot of traders not comfortable with shorting Options and Futures will rush to safety being Gold and Large Gold ETFs where they do not have to take physical delivery.
NOTE: These discussions and any associated thread posts are not intended as investment advice in any way shape or form and is mentioned for informational purposes only now that we are entering a Major 40 Year S&P Supercycle Wave 3 to 4 Top Turning Reversal. Seek competent professional advice to determine your risk tolerance before trading Options or Futures contracts. Never invest more than you can afford to lose.