Gold in a Correction - I am buying!

Gold traded as low as about 802 and change. It is now at 806.50 and still under some downward pressure. Guess the banks and governments were scared. They and the cartel have, in my opinion caused this correction. It give us opportunity to add to our portfolios. At any rate, I am seizing the moment.

I like GDX (The ETF in major miners.). Last trade was at 48.16. This is a bit pricey for many folks. I have purchased the (GDXCU) Mar Call options with a strike price of 47 at a cost of 5.80. Have more orders in to buy additional options.

Gold has dropped again to 804.

Hang on, because I believe this will be a short term sandy spot in the climb which will follow taking gold much higher.

Best to each, Doug