Gold Holding Firm Higher

For the last 24 hours gold has been $594.70 for high and $580.30 for low. It is now $584.80. That is the good news.

The bad news is that those who missed out on DROOY at 1.16-1.17, it is now 1.32. Of course those who bought at 1.16 or so are rejoicing now. If you did and have quite a number of shares, it might be wise to put a 10-15% trailing stop on a portion of your shares. In mining stocks, I sometimes use the trailing stop and pray that it is never executed. Of course, the trailing stop follows the price of the stock as it moves upward locking in the profit as it goes.

Those of you with risk tolerance might consider purchasing calls on GOX an index several good mining companies. I purchased GOXIH which is a September call @ 140 today for 8.10. Gold should be higher in September and the mining stocks will follow. Of course, the past is only an indication of what the future MAY be.

It is not absolutely certain that history will repeat. After all, we are moving toward the end of time as we know it and the Great White Throne of Judgment. That will be a wonderful event for the all of the children of King Jesus.

Best to each, Doug