Tuesday, July 3, 2012

GLD Spec Position

GLD is not EXACTLY where I'd like to see it,  but it is pretty close. I'll be looking to enter a speculative Put, same as the last 3 as far as the type of trade (short term).

 GLD 1 min'

 2 min

The 3 and 5 min are pretty close to in line and the why I say "GLD is not exactly where I'd like to see it"

However,
 The longer term 15 min has not confirmed, it has had enough time to do so.

The hourly is also still telling me I want to trade GLD on the short side in to price strength.

I'll be looking for a PUT position, likely August $160, I'll let you know for sure, this will be a rather small speculative position.

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