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The big news this week is the sudden pullback for gold prices and gold shares. But while the masses scratch their heads in bewilderment, smarter investors know that it had to happen at some point. Nothing goes up in a straight line without pulling back and this correction actually provides welcome respite.
As for us, we entered the gold market long ago and our positions remain solidly profitable. That's the benefit of using pro strategies to build wealth while mitigating risk and providing a valuable downside cushion.
For example, our strangle trade on Yamana Gold Inc. (NYSE: AUY) finally has a chance of making us money on the short side, as Yamana's recent decline has led to a rise for our put options. This is good, as this is actually the more difficult side of the trade.