I have been twittering as jkings1. please follow me for up to the minute comments on the markets.
I've more than doubled my options portfolio over the past few weeks. The volatility has created a variety of opportunities recently.
Based on my study of $GLD options open interest, gold leasing rates and demand, we re at a new $1400+ plateau for gold. I see another move that will take us close to $1500 before long. Silver should hit $50 during summer. Metals will only stop if there is a sweeping dollar rally and massive peace around the world. Yes, metals are subject to pullbacks and can and shall do that, but the mega uptrend continues. This has been the on going pattern for a decade. Nothing goes up in a straight line except perhaps Netflix (one of my winning options trades this week). lol.
Overall stock market direction will be biased higher, though as I pointed out a few messages ago, the range would be fairly tight. Then the Japanese earthquake came along and threw a monkey wrench into the works,. I still see a little upward bias, perhaps a few more good rallies to go, but the air continues to get thicker - everything from Fukushima to Portugal and Libya.. I don't think people are fully grasping the impact of the Japanese quake and what it will do to world GDP later in the year.
The weirdest story to date on the Fukushima situation has been about the pink nuetron beams being emitted by the stricken nuclear complex. This situation is still playing out. Pray they really get things under control there soon.
Best,
JimK
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