This vehicle appears to be popular in the chat room, so let’s put it in play. It has been flouncing around a very important midpoint Hidden Pivot support at 26.48, but because that number comes from the weekly chart, we should allow for the so-far 1.80 overshoot. That would be bearish if it had occurred in a chart of lesser degree, but on the ‘weekly’ it could conceivably come to mediate a consolidation range that is relevant to the long-term trend. Regardless, we shouldn’t simply jump in and buy call options willy-nilly; instead, let’s use the 806.50 target in December Comex Gold to get long. If and when the future trade within $2 (or so) of that price, bid for four December 29 calls (GBJLC). The spread on these calls is absurd — 0.75 on Monday’s closing marks — so don’t even think about paying the offer; wait for the calls to come to the bid, or perhaps step in front of the bid by 0.05 or 0.10. And don’t worry if you miss the trade, since I’ll be featuring this vehicle more often in the days and weeks to come. _______ UPDATE: Shelve the order for the time being, since GDX is too strong today for lazy buying. We may have to chase it, which implies buying at the midpoint of a minor c-d correction.