1:05pm (EST)

The bears are making a little noise following weaker-than-expected economic news and over concerns that Cyprus might ask for another bailout over the weekend.  The bulls have had a strong week and today’s pullback hasn’t hurt the overall gains but there a few levels of support we would like to see hold for a continued rally into next week.

Gold is getting hammered today and has dropped below the $1,500 level.  We have been warning for a few weeks the yellow metal could traded down to $1,525 and that a break below this level would be bearish.  We will cover the chart work this weekend for Gold but we wouldn’t be surprised if $1,475-$1,450 triggers over the next week or two.  Gold is currently down $60 to $1,505 an ounce.

We aren’t sure if Gold is a “good value” at these levels until we do extensive chart work but at some point there will be a bottom.  Over the years we have been buying silver (American Eagles) and we recently bought some gold at $1,600 (including spot price).  The American Eagles are an easy way to accumulate gold as well and we knew when we started buying Gold there could be a chance it would dip lower.  We don’t mind buying more at lower prices as that was our plan.  We are averaging down our cost basis because at some point over the next 3-5 years we still believe gold will be over $2,000 an ounce.

Silver at $26 is also attractive and it is currently going for $26.36, down $1.33.  We would like to add another 100 coins to the collection today but we just called and the spot price is $4!  This means it is still costing $30 to physically buy silver and despite the plunge in price the demand to own silver is sky-high.  We mentioned in January the mint ran out of the 2013 Silver Eagles and there could be another run coming.  We are going to shop around this afternnon to see if we can find a cheaper spot than $4 but it may be hard.

We also mentioned a few weeks ago that there was a stock we have been following for over a year that is a current recommendation for the Weekly Wrap and was ready to explode.  At the time, shares were under $4 and like we said, we rarely pound the table to tell you to absolutely buy something, but we did and said shares could run to $8-$10 over the next 6-12 months.  Shares have pushed $6 this week and today.

The stock is undiscovered by Wall Street, has no analyst coverage, and the talking heads are unaware it exists.  However, we have been telling you about their story and over the next year the noise will only get louder.  We still believe you can make 100% return on this investment if shares run to $12.  Buy 100 shares or 500, or 1,000 and lock them up in your IRA account or buy the stock for your speculative accounts.  Either way you have to own this stock.

The Weekly Wrap is 10-1 for the year and 54-3 since we started the publication in late 2010.  The portfolio is up nearly 70% and we haven’t fretted over any of the positions.  Last year’s triple-digit winner was Arena Pharmaceuticals (ARNA, $8.19, up $0.06) which soared from $2 to $11 and we think our current recommendation has the same potential.

We would like to offer the Weekly Wrap to you at a special discount that will be available through the weekend and will end Sunday night.

If you want to sign-up today, we are offering over a 50% discount to our Weekly Wrap on a 3-month membership for only $129.  This is less than $45 a month for a quality stock and option newsletter that has a history of finding explosive growth stocks.  Our weekly market commentary comes with charts for all of the indexes and our current recommendations.

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Our next issue of the Weekly Wrap will be out Sunday night but if you signup now, you can access the Weekly Wrap Premium section to get all of our current trades.  Again, we are 54-3 on closed trades since inception.  For those of you looking for a little safety in up and down markets, this newsletter is for you.

As far as the market, the Dow is down 24 points to 14,840 while the S&P 500 is lower by 7 points to 1,586.  The Nasdaq is off 12 points to 3,287.  The levels we would like to see hold into the close:  Dow 14,750; S&P 1,575 and Nasdaq 3,275.  If the bulls can end above these notes we should see a continued rally into next week.

We have put in a good week as we closed 3 more profitable trades to run our Track Record to 35-16 for 2013 and is nearly a 70% win rate for all of our trades.  We will have a number in trades in play next week as we wind down the rest of our April options and we are excited about the next batch of trades we are building positions for into May, June and July.

We have some last minute updates so let’s go see where we are at with our current trades.  Subscribers, check the Members Area for our thoughts and we will be back Sunday night with the Weekly Wrap and Monday morning with the Daily.  Until then, have a great weekend everyone!

(We will also be talking about mini options so make sure you don’t miss the next issue of the Weekly Wrap!)