Tuesday, November 23, 2010

Gold Trade

Quietly gold, using the GLD, has now rallied back to its break down level I mentioned in a post just over a week ago.In that post I indicated I wanted to see GLD break below the Nov 9 outside reversal candle's intraday low of $135. The corresponding number on DZZ that day is $8.45. 


Based on this rally in GLD or correction in DZZ (if you prefer) I am adding a 3rd unit to my long DZZ position here at $8.55.



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 U.S. Dollar Bull ticker UUP @ $22.56 stop @ $21.44
Long 1 unit Powershares Gold Dbl Short ticker DZZ @ $8.38 stop @ $7.84
Long 1 unit Powershares Gold Dbl Short ticker DZZ @ $8.61 stop @ $8.04
Long 1 unit Powershares Gold Dbl Short ticker DZZ @ $8.65 stop @ $7.98
Long 1 unit Barclays 20yr Treas Bond ticker TLT @ $95.61 stop @ $94.69

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