giveback, i want to zero in on this on the next chart, so, what we know is the low in gld was literallyntraday lows and the high, 122.37, that's a $22 rise. we've given back exactly a third. seven times three 21 and a one-third retracement and today we close at or near the high. we've bounced quite well and closed almost at 117. i lost my chart, but you have the visual there. this is an opportunity by my work. we would get long gold if you're not already there and if you're there and you're worried it's okay. >> it's okay. mike, what do you say? >> we saw bullish activity in gld options. i think that is the way you want to play a bullish bet in gold here, and it makes sense given the fact that the fed has taken a more dovish stance, and the way to do it, go out to june and buy the 117 and 126 call spread. the $9 spread will cost you $2.40 and basically getting long the 117 strike, right at the level he was identifying giving you a little bit of an upside and an opportunity for this with room to play out. the nice part, that upper part is going to offset some decay, so you go rent some u

and like carter said it was trading at, you know, 1,000 -- gld was at 100. so to me, i think this is a countertrend rally. and i look at that downtrend and i say if it breaks that downtrend that he just said that it broke to the upside and if it breaks it to the downside then you've got problems and then you've got a retest of the prior lows. >> all that additional qe didn't weaken the dollar that's the reason commodities were so weak for that period of time. we're now at a point where people will question the strength of the dollar because we're basically the strongest currency in a bad neighborhood of currencies. that's no longer true basically based on what we're hearing. so i don't think the qe argument basically for gold weakness is going to hold up. >> carter, i'm curious. what does a chart of the dollar look like in your view? >> we know the dollar on a rolling 12-month basis had one of the biggest moves on record and then over the prior 12 months, we've been sideways. we think the dollar is range bound after that epic move, and while there is a corre

. >> what we know is the low in gld was literally interday low. $122.37. $22 rise. we've given back exactly a third. so one-third retracement. today we close at or near the high. we bounced quite well and closed almost at 117. you have the vishl you'll there. this is an opportunity by my word. we get long gold if you're not already there. >> that was the view a couple of weeks ago. the chart master sees another way for gold. >> gold has continued to rise, the gold miners a lot of leverage by virtue of debt. they have come to life in a crazy kind of way. we've got really good charts that i think will put this in perspective. but the stats here, i just wanted you to start with this. this is the actual gld from its structural low. and the gold miners. now, you're going to expect this kind of thing with beta. and with the leverage associated with an equity versus a commodity. but at this point, we think this is a bit overdone. again, 100% versus 24%. i want you to look at since the data begins, this is an old index out of philadelphia, what we know is this ricochet is n

>> i saw it and was confuse gld you were in the movie? i was met second hobbit movie and i can tell you right now-- and i hate to blow your illusions here but a lot of that gandalf stuff was being done by an act porp he doesn't all donetsk all that stuff. >> let's keep this in mind about optimus prime. not only powerful missiles weaponnized. course, he can ba -- >> he's only the size of an '-wheeler. he coanl be the size of an 18 wheeler. vol tranis 180 feet tall and he can flief. can optimus prime fly? no. >> yes, he can. >> stephen: he runs. >> he can jump very, very high. he can jump so high that it's basically flying. >> stephen: yeah, yeah, sure. >> optimus prime has survived four films with michael bey. megan fox two, me, part of one. >> stephen: that is a good point. that is a good power plant. i apologize. let's let these people pick a winner right out here. ( cheers and applause ) america. get on twitter and vote, gandalf and optimus prime vs. dumbledore and voltron. you makes the decision. this has been... >> "friday night fights

one of the earliest trades we saw was july 125 call. that would put gld over here.t $2.29 to buy 10,000 of those. a bullish bet that it will be up 10%. given how much it has moved, just since january, just under 17%, you can see why risking just about 2% of the underlying is probably the smartest way to make your bullish bets here. >> do you think the move in gold could be that big? >> i do. gold is one of those commodities that you're actually seeing an awful lot of demand for. and we know the supply is fixed. you're seeing buying from china and russia, two of the largest buyers over the last year actually. look at the inflation picture. if you look at t.i.p., which is the inflation protect securities, they're expecting inflation coming in the future. you have a demand set there. you have an uptrend. i still like gold. >> once again, without the abacus, you just said gld is up 15% year-to-date. it outperforms 3-1. >> 43%. >> 46%. so if you do believe that the gold trade is still on, you play with the miners. they're torqued, either up or down. but i do actually, i