Trade Update: IAU GLD

Gold and silver along with the mining stocks are way overbought and finally beginning to correct. But market manipulation being what it is the FED has a habit of surprise rate cutting on options expiration Friday, today. I don't want to be short GLD or GDX when the FEDs play their games. If I'm correct gold will correct in a tradeable fashion then resume the path to 1000, in which case I will cover the IAU and ride GLD back up until it's next correction, profiting from both side of the trade. If I'm wrong I will close both sides of the trade for NO LOSS.