GORO looks like it has farther to fall, to at least 19.20 –about 15% below these levels. The good news is that we may get a great buying opportunity if and when the stock gets there. Officially, we’ll look to acquire at-the-money calls at that time, with the expiration month yet to be determined. Unofficially, we’ll try to initiate a camouflage long when the target is approached, since that can give us an entry opportunity even if GORO does not make it down to the target. Camouflageurs should also be on the alert for shorting opportunities if the current rally pushes up to the 23.97 midpoint of the pattern shown in the chart.
