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Gold, Metals, Mining
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Trade Update... I'm Back In With Gold Futures OptionsFirst of all, I sold all my crude oil futures for
a profit of about 3% of networth. I'm expecting end of year weakness
after the OPEC meeting is over and hope to buy back in somewhere closer
to $50. I still have roughly 1/3 of networth in Canadian oil producers
and roughly 1/4 of networth in gold miners. More important to this board, I just bought int the money Mar $1370 Gold futures @ options at $116 for a
seasonal swing trade leading up to Chinese New Year. So, I have to exit
the trade with gold above $1486 (not much higher than current) to make a
profit. The amount of gold being held is roughly 1/2 networth but the
options cost 3% of networth so this trade has a maximum downside of 3% of networth. I expect to hold these until an overbought
high in January or February. The rest of my networth is mostly in a paid off home. MontyHigh |
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