Thursday, May 14, 2009

Gold Stopped Out Half Position; May 14, 2009

I cashed in my gold butterfly as it was well in the green with all this sideways action in the metal the past few weeks. The break above $920 caused me to stop out half my position at a loss which was minimized by the butterfly position. Gold's technicals still look week and I expect it to fall to the lower $800 area soon so I'm holding on for now with a stop at $950 on the rest of my position.

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