Took profits today

Though the market may go lower before the big anticipated bounce into the spring, I sold my SRS and my puts on SSO, NEM, AEM, BHP and KSS today. I put in orders to buy long call options on GG and RGLD, my two current favorite gold miners. These orders won't fill unless gold stocks go lower.

As anticipated, the surge in the Volatility index ($VIX) made the profits fast, furious and easy on my put options, so I took the money and ran rather than letting things ride. My primary efforts now will be centered on hunting for long candidates and trying to time my purchases. My plan is to go with the sure thing and buy call options on gold miners exclusively. I anticipate at least 50% gains from today's low, though the final intermediate-term low for gold stocks may not be in yet. Other sectors may do well also (oil/oil stocks look especially beat up and ready for a massive rally), but I'm going for the guaranteed easy money.

I am betting the farm on gold stocks in a highly concentrated investment/trading strategy using essentially all my investment funds (other than my physical gold holdings, which are not for sale and are never traded). I am also looking to buy some more physical gold when this current correction in the gold price completes, likely in the $760-$775/oz. range, which should happen within 1-3 weeks.