Stocks, Sports and everything else Headline Animator

Thursday, January 22, 2009

I sold my GLD calls

I do not like the fact that GOLD cannot overcome resistance easily. It might anytime but as of now i booked the profits, if and when Gold goes down a bit more or overcomes that resistance, see the blueline on the GLD chart, I will buy it again.
This way I free up capital , only thing is sometimes GOLD can jump huge overnight but is can also fall huge. With the recent happenings in Europe region I do not think those currencies will strengthen up soon and so the US$ will remain strong and thus GOLD might tend to be weak, or at least rejested at resistance.
But if it breaks resistance, in a few minutes or a few days or weeks, I will buy it.

No comments:

Post a Comment

About Me

I am into stocks, options, all kinda sports, Music, food, Spirituality etc.
Powered By Blogger