Congratulations to those who participated in the (GLD) trade. This is now time to take profits on the final tranche and exit the trade. We are exiting the trade at $163.76. Although we have been taking profits along the way, it is worth noting that our highest short
Changed GLD limit order to $172.98 and now have exited a 5% tranche with profit.
Entering a limit order at $171.52 on a 5% tranche of GLD to take partial profits.
We are taking partial profits on GLD right here $178.75 on a 5% tranche.
We are taking profits on the 5% tranche of GLD (GLD) from $185.05 right here at $179.73. We are still maintaining the rest of our GLD position. In this environment it is best to take profits often.
In view of the three day weekend, we are concerned about short covering this afternoon and on Monday in Europe and Asia. Our plan is to lighten up a little bit. We will exit the tranche on GLD from this morning entered at $182.10 right here at $182.45.