Gold stocks are making a run today as oil continues higher while the market heads lower. The Dow (11,316, down 137) is down triple-digits once again and Gold continues to thrive as investors seek a safe haven. The precious metal is up $16 to $931 an ounce. Here’s a few stocks and call options that we can follow over the next few weeks. The group below has performed extremely well this week:

Barrick Gold (ABX, $45.44, up $2.40)
July 45 call (ABXGI, $2.10, up $1.05, or 100%)

Goldcorp (GG, $46.73, down $2.39)
July 47.50 call (GGGT, $1.80, up $0.95, or 100%)

Gold Fields (GFI, $12.57, up $0.65)
July 12.50 call (GFIGV, $0.60, up $0.25, or 71%)

Newmont Mining (NEM, $52.88, up $0.70)
July 55 call (NEMGK, $0.94, up $0.10, or 12%)

The pressure of higher oil (now at $142!) and a lower dollar could give Gold the fuel it needs to make a trip to $1,000 an ounce. I mentioned in my Market Commentary last night that nothing looks good except maybe Gold and that’s holding true today. Like I said, things are getting cheap and it will soon be time to jump on the Financial stocks and other sectors that have been scolded. In one or two years from now the right LEAP options could do very well.

Rick Rouse