Trading Comments: Building A Position

1) The position bought at $1627.50 on February 15, 2013 was sold the same day at $1607.50, which was its stop-out point. Loss: $22.00.

2) Buy one position at the market. Gold is presently trading at $1613.80, so I will use this price for recordkeeping. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades at $1597.00.

3) Buy one position if the Comex spot gold price trades at $1,622.00. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades subsequently at $1,597.00.

4) Buy one position on the first Comex close in New York above $1,654.00. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades at more than $30.00 below your purchase price.

5) Buy one position on the first Comex close in New York above $1685.00. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades at more than $30.00 below your purchase price.

Silver
1) The position bought at $30.22 on February 15, 2013 was sold the same day at $29.95, which was its stop-out point. Loss: 24.0¢

2) Buy one position at the market. Silver is presently trading at $30.01, so I will use this price for recordkeeping. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades at $29.78.

3) Buy one position if the Comex spot silver price trades at $30.20. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades subsequently at $29.92.
4) Buy one position on the first Comex close in New York above $31.10. Stop-out point: sell at an intraday stop-out point if Comex spot gold closes in New York more than 50¢ below your purchase price.

Gold/Silver Ratio – On January 31, 2013 traders sold the ratio (they bought silver and sold an equal dollar amount of gold) at 53.0. Stop-out point: Unwind this trade on the ratio’s first Comex close in New York above 54.8.

Comex options (options are high-risk and therefore not for everyone):
Long one Mar’13 Comex 32 silver call from $1.474, the November 5, 2012 Comex close.

Long the Dec’13 Comex 1800 gold call from $48.80, the January 31, 2013 Comex close.
Long the Dec’13 Comex 35 silver call from $1.603, the January 31, 2013 Comex close.

Long the Dec’13 Comex 1800 gold call from $31.80, the February 15, 2013 Comex close.
Long the Dec’13 Comex 35 silver call from $1.046, the February 15, 2013 Comex close.

Hold all these calls without any stop-out point, but sell the Mar option on expiry if in the money.