If gold is just finishing its triangle continuation pattern and ready to move higher, then NEM is a great buy! Any options in the $39-$40 level expiring next week should do excellent, if that is the case.
I'm still bullish on GOLD for the next few trading days and thinking its going to attack the highs next week (and fail to breach). In that regard, I anticipate that NEM is in an expanded flat and that wave 5 of the ending diagonal should commence Monday morning after a wave 4 overlap at $38.79. If my analysis is correct, NEM will bottom after this quick overlap...
I'm still projecting one more push higher for GOLD before the steep slide down to $1,400. With that in mind, I purchased NEWMONT GOLDCORP (NEM) $38.50 call options expiring this Friday (bought at $0.20) I anticipate that NEW is in an ending diagonal that will rise to $39.35 or so tomorrow, fall back to touch the wave 1 high at $38.79, and then push to the $40+...