I am pulling the plug on our our long term position in GLD. It looks heavy here. The gap down today has squeezed it between support at 90 and the 100 dma which is flattening out and rolling over. There is nothing but air between 90 and the 200 dma at 85. We will still be long IAU and I will short the GLD to hedge against the long IAU if GLD breaks under 90. It is the only way to go because we opened the GLD at $88.93 and it's volume is sufficient to allow shorting. The IAU has not always let me short it because there weren't any shares available to short.
Sell 100 shares GLD at $90.44
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