OUR READERS WERE WELL PREPARED TO SHORT SELL GOLD $GLD AND SILVER $SLV AT THE TOP
As per the prior post, strengthening of the dollar was a perfect signal to short sell gold $GLD at $139.25 and silver $SLV at $29.05. We suggest tight trailing stops to protect profits. As of this writing $GLD at $135.73 and $SLV is at $28.33, but they have been lower. Downside momentum may be waning.
Do not lose sight that this is only a short term trade and not a long term call.
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December 8, 2010