Stock Market Commentary by full-time trader and best selling author Bob Kudla AKA "BobLovesHawaii"
Friday, October 22, 2010
Watching GOLD for an entry
Randgold Resources has been hit pretty hard on the gold/miner retracement. At the time of this post it has held the 61.8% trendline. I am going to scale in at this level (if it holds today) with December calls, the 105's. I will pay for them with the November 85/90 put spread.
My trade is in, Calls at $1.30 debit and sold Puts at $1.00. Net $.30 debit. I am out if it breaks the upper rising trendline.