Thursday, August 27, 2009

Just bought Gold Calls

I just bought Gold calls to protect my short position. I think that Gold is sympathetic with equities and I think that equities are high on little volume. BUT, it seems that we have broken some big resistance...so, as much as I dislike it, I have to go with the uptrend...Long 10 contracts October 975 Calls @ 9.70.

...I am short Gold because I don't see the inflation that everybody is concerned with yet...and I think that the Dollar is beaten up and will bounce, at least temporarily. I don't plan on holding these for a long time.

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