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Fear & Greed Trader
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INDEPENDENT Financial Advisor / Professional Investor- with over 30 years of navigating the Stock market's "fear and greed" cycles that challenge the average investor. Investment strategies that combine Theory, Practice and Experience to produce Portfolios focused on achieving positive... More
My company:
RTR LLC
My blog:
Stocks4Income.com
  • Gold- Update On DZZ (Gold Short) Position 0 comments
    Aug 6, 2013 8:37 AM | about stocks: DZZ

    On Jyly 22nd I wrote commentary on my take on Gold - What to do now

    http://seekingalpha.com/instablog/706857-fear-greedtrader/2057612-gold-what-to-do-now

    I detailed my reasons to enter innto short position on Gold via the ETF- DZZ

    After a few failed attempts to break thru the 50 day MA resistance (blue line) level the metal continued to show weakness. Here is a daily chart of GLD as a proxy for the metal. The downturn seems to be firmly in place (click to enlarge)I added to my original DZZ position Aug 5th @ 6.75. The average cost for the entire position is now $6.60

    I will add updates & commentary as the position unfolds.

    Disclosure: I am long DZZ.

    Additional disclosure: This is a short position on Gold

    Themes: Gold Stocks: DZZ
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