Covered U.S. Gold Short

Monday morning I decided to cover my (UXG) short at $3.02. I took a decent 7% gain out of the stock here in a pretty short amount of time, but with gold acting strongly in spite of the dollar and with the stock appearing to put in a short term bottom at $3, I don’t see much reason to push the trade further.

Comments

[Sean Brodrick:]

You might want to get short again. Check out the chart of the HUI (Gold Bugs) index that I posted a couple hours ago ... looks like it has more downside.
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2007 Dec 17 02:57 PM

[User 131129:]

What the heck is up with this stock lately? My 1500 shares of this stock have gone down the toilet.

2007 Dec 17 06:51 PM

[User 131647:]

Heh, yeah I bought 1500 shares at $3.40. Oops for the time being I guess. As long as it peaks around $5-6 sometimes in 2008, I'll be fine.

2007 Dec 19 10:46 AM