Thursday, September 17, 2009

Gold Update

Obviously, it was a smart move to hold on to some of my October Gold Calls. The Dollar's weakness is good for American companies...but it's causing prices to go up in Gold and, more importantly, crude oil...and I am still short 1 Lot of Gold
(-$8,500)

So now, I still own the other half of my Gold position, 5 contracts of October 975 Calls (remember I sold the first 5 @33.90 for a $16,950 profit.)...which I bought @ $9.70 along with the first 5 contracts, are now worth $46.80.











I'm very wary of equities, but, just like Gold, it keeps going up. I am glad I went out two months on these calls because it gives me more time too figure out this insane. market

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