Covering the Gold Short

Tuesday, February 14, 2006 | 09:53 AM

I just covered the short in GOLD.

My view continues to be there is more upside for the yellow metal over the long haul, but this trade was simply because it got too far ahead of itself technically to not try to schnitzel a quick 5%.

 

We are still net long Gold longer term, but the GLD short (mentioned last week) is now closed.

Tuesday, February 14, 2006 | 09:53 AM | Permalink | Comments (4) | TrackBack (0)
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Barry-

That was good trading. We are at a key support level and it's 50/50 on which way this goes. Pocket the quick 5% and buy Valentine's Day gifts.

Posted by: Mark | Feb 14, 2006 10:25:35 AM

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