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Gold, Metals, Mining
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Took profit today...on 30% of oily stocks... Also took profit on 40% of my gold options and 5% of gold miners. I was 100% invested in my retirement accounts (Canadian oil E&P and gold miners) and now have roughly 30% cash. I
was leveraged long 3 to 1 in gold in my trading account with the gold
options (and short S&P 500 with options leveraged 3 to 1 in that
same account). Will put that cash back to work on either: (a) Higher highs than today for gold or oil. (b) Significant correction. Am still expecting a decent S&P correction. Will accept getting stopped out on an S&P higher high close, I expect. MontyHigh |
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