"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Wednesday, October 28, 2009

UGL

About time to think about getting long the price of gold? Hmmm? Well, I am a guy with a bunch of short positions against which to speculate long (2X short the SPX added today via RSW).

So I think I am going to add some 2X long gold nitro w/ UGL on the odd chance that this was a smash down in the face of the need to sell treasuries by Uncle Sam.

Edit (3:12) Okay UGL, you are on a short leash for a gap fill and gold bug shakeout.