Buying Swing: covering short GCZXH OVERSIZED 1.30 area OVERS
Posted: Fri Dec 04, 2009 1:51 pm
Buying Swing: covering short GCZXH OVERSIZED 1.30 area OVERSIZED GLD 112 Dec puts [BUYING TO CLOSE] . Im here taking a strong loss on the GLD puts short but held truth this time the long position that ofset some pain and onto of this at this area am adding another OVERSIZED position long on these GLD puts. This is the pull back that was expecting last week on gold and it should signal the end of the gold run and beginning of a much larger retrasement especially after a tern in the dollar. Gold as mentioned last week I believe to be a bubble waiting to pop and this should be the beginning of that pop. The main mystake was not covering the shorts today when these puts were still around .70 for yesterday it was impossible to predict the economic data we saw today.