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FSN: Massive Put Option Buying in GLD
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
by Dan Norcini
Trader Dan Norcini
News late in the session today, after the close of pit trading at the Comex, revealed a surge in the number of put options being purchased on the gold ETF, GLD. That news seem to further undercut the price of the metal after it had managed to claw its way back above the $1500 level to end the pit session.
Once the news hit about the GLD put options, the price just sank and sank and sank to the point where it not only reached an initial downside support level at $1480, but went right through it, trading as low as $1476 before the damned bell rang to finally close the screen trading and end the miserable session.
Continue Reading at TraderDanNorcini.Blogspot.ca…
2013-04-12 23:16:45
Source: http://silveristhenew.com/2013/04/12/massive-put-option-buying-in-gld/
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