Still Short on Gold

by JDH on June 24, 2017

I’ll keep this brief, since I explained last week why I’m short on gold, temporarily.

I’m still short, and the week started out great with that strategy, using JDST, a 3x leveraged bear fund.

But then gold bounced up, and I finished the week essentially back where I started.

So, on Friday, I increased my position to average down.

My line in the sand are the previous lows (just under $50 on JDST), so if we hit that I’m out, and I’ll take the loss.  However, a bounce and I’ll take the profit.

As I said last week, this is not a long term play.  I expect to be out of this position over the next two or three weeks, hopefully at a nice profit.

We shall see.

So far, I’m wrong, but I’m still hopeful.

Thanks for reading, more next week.