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Covered U.S. Gold Short

by: Thomas Kelly December 17, 2007 | about stocks: UXG

Thomas Kelly

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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.

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This article has 3 comments:

Dec 17 02:57 PM
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.
redhotresources.blogsp...

Reply
Dec 17 06:51 PM
What the heck is up with this stock lately? My 1500 shares of this stock have gone down the toilet.
Reply
Dec 19 10:46 AM
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.
Reply

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Covered U.S. Gold Short

Thomas Kelly

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