Gold Stable-should consolidate or move higher from these levels

Gold is in strong hands at these levels. All attempts to breach this area around $580 for the metal and around $34 for GDX are met with strong buying. The thesis which I had been planning for at the beginning of the year is playing out perfectly-options selling is the way to make money in this market. I have been selling options on GDX and ASA, catching in very nice premiums, with the market going nowhere.

This could go on for a while, maybe another year, or the stocks could start moving higher. In any case, as time progresses, I will become more and more bullish; as the stupendous gains of the last few years are digested by these stocks.

Sanjay John G.