Monday, June 27, 2011

Trade Update: GLD

We opened half the position of GLD at $148.63.Today we were stopped out at $146.69, for roughly a $50 loss. Looking at the chart it's difficult to tell whether or not GLD is running into suppoer at $145 or not. If it does break down under one $145, I do not think that the 100 fay moving average will provide much relief. We meet tentatively looked short GLD under $145.

Buy 1/2 GLD @ $148.63.
Stop at $146.69

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