Tuesday, May 24, 2011

Options Expiration

This Wednesday is options contract expiration week. Look for gold and silver prices to remain pinned around their current levels. For gold this is 1515-1520 and for silver in and close to the 35's. While this is no certainty it most likely could happen as the large commercial banks attempt to have as many option holders positions expire worthless. After Wednesday and into Thursday/Friday it could very well be off to the horse races. By weeks end gold could be bouncing around 1545. This also though is no certainty as tomorrow is promised to no one and shall unfold as the LORD wills.  
This is just some investing advice, as after many months of repetition, options expiration week has usually transpired with prices flatlining during the first half of the week with the second half being noticeably more bullish. Here again is Jim Sinclair's favorite golden illustration. 

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