Tuesday, February 27, 2007

GOLD



I exited the remainder of my long gold position today which I've been holding since last month. Looking at the above chart of GLD, little damage was done to the up trend..In fact, GLD didn't even take out last week's low but I exited my position anyway because I'm really not sure what is going on right now. The dollar got crushed today which is what I've been anticipating... Gold even made an attempt to rally towards unchanged at one point this afternoon, but when it failed and headed back down, I exited my position when gold was down about 10 dollars.

1 comment:

Jim K said...

Kevin, i did the same thing. best to wait it out on the futures side. I still have a ton of GLD, though.

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