Monday, July 8, 2013

I think I'm going to Bet Against Gold Even though it's already down quite a bit this year

Once again, I am unsure of the OptionsHouse platform. It is telling me the bid for GLL, my preferred vehicle to bet against gold, is $85 while the ask is $115. So time to try this in the virtual account again. Buy 12 Shares at $107 with a trailing stop which will sell these shares if the ask price falls 10%...not sure how to set up trailing stops yet but my thought is this will give me some protection if gold skyrockets but won't be triggered during a bounce.

But just look at this chart and tell me where gold is going...






I'm just a novice. I've seen others annotate charts...and I'm trying my hand at it for the first time :)

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