Thursday, November 15, 2007

Short Gold Position - Lock In A Double

The gold position is much like the cotton position I commented on earlier.
Gold has confirmed its intermediate term trend shift to lower and is also in a position
to have a free fall in price should this decline be anything worthwhile.

With this in mind, I am going to move my stop up to 100% R.O.I. as we have better than a 140% return thus far and gold should free fall from here and NOT rally. Moving this stop to this level will guarantee us a very nice profit, while also protecting us if we are in error about this move. It will also leave enough room for the gold market to continue lower and our position to continue its profit.

This trade has also reached a point to where the stop will have to be moved and monitored as the market goes our way in order to maximize the trades potential.

Keep an eye on the Grains also as they appear to be ready to follow the likes of Cotton and Gold!

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