Thursday, October 21, 2010

Punting Gold

The gap down in gold the other day has now been open for 3 days. This is sufficient evidence for me to test the waters on the short side via  punting gold short via the Powershares gold double short ticker DZZ here at $8.97.

I hate to do this, being short gold,  but I cannot help myself. 

Daily chart below of DZZ.




Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $60.30
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $60.50
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $42.45
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.10
Long 2 units Direxion Tech 3X Bear ticker TYP @ $52.60
Long 1 unit ishares Barclays 20yr Treas ticker TLT @ 92.15 stop @ $98.74
Long 2 units U.S. Dollar Bull ticker UUP @ $22.56 stops @ $21.94/$21.44
Long 1 unit Powershares Gold Double Short @ $9.07 stop @ $8.67
 Short 1 unit American Express ticker AXP @ $39.45 stop @ $40.51
Short 1 unit Apple ticker AAPL @ $312.25 stop @ $315.37

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