Weekend update

Gold broke out of it’s trading range last week in a quick fashion. We are going to wait until a pullback and enter some positions in anticipation of a possible run at $1300. We might even purchase some puts as an insurance policy. We will review the COT data once it comes in, however if it is bearish we must anticipate this surge in gold not to be the big one, but it might be a good short term trade nontheless.

Silver is the same story. We will put in a partial position on pullbacks with close stops once we see a sizable rally.