Gold made new all-time highs this summer. That was pretty cool. Hadn’t seen that in almost a decade.

Some people always like buying gold. They joined some secret society once where they convinced themselves it was part of a “diversified portfolio”. I don’t know what kind of strategy that is, but it was a really shitty one for a long time.

That all changed earlier this year when Gold Miners $GDX finally broke out above 31, which had been our key levels for years. And the metal itself broke out above 1580 or so which had been our equivalent level there.

Our initial price targets were hit last month so I called Sean over on our Options desk and he suggested an easy strategy to bet on a pause in this uptrend: When The Ducks Are Quakin’ (Gold Bugs), We Feed Them!

Our profit targets were hit today in this volatility fade in Gold.

You can learn more about All Star Options here.

So now what? Our upside targets were hit. Check. Then we bet on a pause. Check.

Let’s now take a step back. Has the fact that precious metals are in an uptrend changed? No.

Just because our initial upside targets were hit, does it mean we now ignore it completely? No.

In fact, I think we’re probably setting up for another leg higher in precious metals.  [Read more…]