New Position

Opened a small position this afternoon in Newmont Mines $52.50 call options. I purchased 2 for $4.40 each for a total of $880. The leverage is approximately 12-1. I am looking for the stock to run through $60-65 over next two days based on two bullish developments:

1) Newmont earnings call on 4/20
2) Fed comments released today that indicate the end of the tightening cycle. Precious metals should make another huge break on this news and we may be looking at $15 silver and $650 gold by the end of the week or early next week.

Best regards,

BG

PS I did not take a huge position as I think this rally both precious metals and stocks is extremely long in the tooth and this position is extremely spec. I was dissapointed to see GGC rally along with the other stocks today to $26 range. I don't think this is sustainable as the current bias is that oil prices will impact earnings and oil is trading at new highs around $72 per barrel.