Thursday, August 9, 2012

GLD Update and possible position

We don't have any tier 1 US economic data tomorrow except Import/Export prices and it seems there's some disappointment of late with some better than expected data which means QE3 becomes less likely, which means GLD becomes less attractive in the near term. I'm thinking of a speculative, quick Put trade in GLD here.

 The 1 min went leading negative when GLD gained in price, this looks like near term selling in to strength based on the QE disappointing data.


 The 3 min overall as recent data has also been disappointing for a September QE3 announcement.

 The 5 min chart as well

And the 15.

That's enough for me for a short term options put position, I'll let you know what I decide on.

No comments: