TAKING PARTIAL PROFITS ON GLD (GLD)
We are taking partial profits on GLD right here $178.75 on a 5% tranche.
September 12, 2011
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.
We are short selling a 5% tranche on gold GLD right here at $177.51. We will not use a stop but keep the quantity small to control the risk. Target is $165. We will be closely following this trade on gold in the Real Time Feed of
My success at calling tops in the gold (GLD) and silver (SLV) markets is well documented. Those not familiar with my work may want to start out by reading the following: · The Arora Report Blog Gold: What To Do Now Gold And Silver: What To Do Now Redux Silver