Covered U.S. Gold Short

Dec.17.07 | About: US Gold (UXG)

Monday morning I decided to cover my (NYSE: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.