Thursday, August 11, 2011
Trade Update: GLD
The meltup in GLD had now gone hyperbolic and it is time to move our stops. Our cost basis for GLD is $155.81 and we are moving stops up to today's low of $170.51 to lock in a profit of $1470.50.
Buy 1/2 GLD $157.04
Stop at $154.04
Buy 1/2 GLD @ $154.57
Stop at $150.94
Look at the chart, it looks almost as extream as SLV did just before it's crash. We will protect our profits just as we did with SLV when we got out at $45.
Move all stops in GLS to $170.51