02nd Sept 2011–Shorting the real GOLD

Buy $	Sell $	Sell Short $	Buy Back $	Stop Loss $	Profit / Losses	Duration
		104.00

 

Reason for Buy / Sell / Sell Short / Buy Back:

 

1. Intraday shows that it just came out of the small triangle formation and is heading South.
2. Price is below both intraday 20MA and 50MA lines.
3. Intraday 20MA and 50MA lines looks like going to do a bearish cross.
4. Daily chart shows that 20MA line is broken even though the uptrend still intact.
5. GLD chart also shows weakness. Patterns are so similar.

 

Lesson Learnt:

 

1. If the short is successful, the next one to short will be GLD.
2. Monitor GLD movement closely. This can be a tough short, but I think the time is kind of right already.

 

Intraday Chart

Historical Chart