What follows is an email I wrote to Stewart Thompson, proprietor of the Graceland Updates subscription service.
Covered Call Options For Gold/Silver... Skip If Busy
Stewart, your service is freeing up a lot of my time to do some actually creative and productive engineering. Thanks much.
At
this point my main strategy for 2013 is to hold a bunch of Dec $1500
gold call options (but not so much I can't take a fall to $1432 or
lower) and to hold a bunch of gold miners.
Anyway, I'm thinking about using your HSR resistance points to sell
gold call options (covered by the Dec gold call options). Might you
comment on that as a way of doing short term trading in an upcoming
update?
Thought you might like a profile of one of your subscribers (skip if too busy):
- Became a Christian during the 70s Jesus freak days as a teenager. Am now a father of 6 with 3 in college and 2 to go.
- Been an engineer doing satellite communications my entire career at Hughes. Inventor of around 60 patents mainly about making the Internet go faster over satellite.
- Was team leader over 50 engineers at one point, but that wasn't much fun. Found myself sitting in meetings deciding which problems were worth working on and who should work on them.
- Got a twenty-bagger aggressively trading over the last ten years after my 401K rolled over to an IRA in 2003 and I received a six-figure retention bonus. Started knowing nothing about investing, read dozens of books, thousands of Internet articles, wrote and operated a non-profitable automated trading system, ended up making the big bucks with Jr base metal miners and Jr gold miners mainly between 2007 to 2011. 2011 got that final double using a kicker of gold and silver call options. Much of my learning history is on my website, www.worldofwallstreet.us, that I don't expect you to visit.
- The twenty-bagger is now down to a 10-bagger. I have too high a risk tolerance.
- After making the big bucks and accumulating much more than enough I discovered that it didn't really change much. Didn't help my marriage, make new friends, help me have "fun", etc. Furthermore, giving big chunks away, while a good thing, was not really very satisfying. I found that what I really wanted to do was write code and create new networking solutions.
- I am now a full Vice-President, but with no one reporting to me. I wrote every line of code in the drive-train of a new kind of networking router in the last two years. I often spend all day in my office "playing legos" without speaking to another person. I guess it takes all kinds.
- I'm relying on your service to help keep me from turning my ten-bagger back into a five or less bagger and to free up some of the 30+ hours a week I was spending on investing/trading for engineering and family. Your approach and service is a big part of helping me to fulfill my real calling(s). I am still taking complete responsibility for my own investing decisions and do not follow your service blindly.
MontyHigh, www.worldofwallstreet.us
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