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gld - How long to stay short gold?
I bought the GLD Jan 2010 108 strike puts last Thursday. They were up about 350% as of Tuesday's close. I thought I'd see if anyone in the Short Screen community had an opinion on how long to stay short gold here.
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Buddy, if you're up that much, at least take your initial cost off the table.
Sold half of those GLD puts today for a gain of about 390%, so my initial cost is covered. Now I'm playing with the house's money.
this post on thestreet.com is interesting http://bit.ly/7r6Dsq
Interesting, and inauspicious for my remaining GLD puts if true.
My remaining GLD puts were up 129% to close at $3.40 today on the drop on gold: http://finance.yahoo.c...
Sold the rest of those GLD puts for a ~430% gain today: http://bit.ly/6WrFdY