Friday, April 17, 2009
Max pain hit - stopped out
of GG and NG. Can't afford too much of a drawdown on a short-term basis as I need to be ready to go short and my stop losses were hit this AM. I thought we would turn up for one more pop but the recent action tells me I am wrong and the top is likely already in for this cycle. More later.
Remain in RGLD, as this is a longer-term position, would never sell my physical Gold at this stage in the game, and a few long-term miner holdings are just that. Though I could still be proven wrong on selling these short-term trades this morning, I would like to apologize in advance for my wrong call.