The Quest for 100,000

On June 28th I had a very strong suspicion that the bear raid and artificial bear market in the precious metals sector had come to an end. If I was right then one of the greatest opportunities in the last decade had just been created. 

I knew that if the move over the last eight months was not a natural move, that the fundamental supply and demand properties of the metals market had been severely damaged, and ultimately this would lead to an acceleration and intensification of the secular bull market.

About a month ago I became convinced that I was right and that June 28th had marked a major bear market bottom. At that time I decided to start a project to see what was possible as the new bull market got underway. I started with $300 with the goal to try and turn it into $1200, a 300% gain. I reached that goal last week, and realized my sights were set way too low. 

Over the course of the next six months, using short-term option strategies, I think it’s possible to turn that $300 into $10,000, and depending on how aggressive and sustained the move is, I think $100,000 isn’t out of the range of possibilities.

Options are always risky and there’s a strong possibility that I may get part way to the goal, miss a trade, and just end up losing the initial $300 stake.

I’ll update the progress as I go along over the next six months. If I miss a trade and the position goes back to zero I’ll publish it and the quest will come to an end.

Current total $1290.