Buying Swing: buying swing GLL at 10.08-.10 OVERSIZED GOLD U
Posted: Thu Jan 21, 2010 1:44 pm
Buying Swing: buying swing GLL at 10.08-.10 OVERSIZED GOLD ULTRASHORT. Am here using the gold bounce to make a new mid to long term position. This is a ETF on GOLD ultrashort bearish, and am under the belief that GOLD as I have spoken about in the past , that it may be but a bubble inflated by fear and partisan political perspectives not rooted in facts and therefore fell comfortable positioning multiweek to multimonth bearish on GOLD here. Though have to admit we need a few more days for these breakdowns that we see today to truly prove themselves. This is a stock position so according to my sizing discipline it equates to 5 times the money allocation of a equivalent options position so am tying up strong capital on the bearish GOLD bet just as we have on the bearish OIL bet trough SCO for months now.