Monday, February 25, 2013

Taking some off the March GLD Calls

You may recall there are some March and April Calls, the April are up nearly 25%, I do feel like there's a loss of momentum in GLD short term, I continue to think the position will continue to move higher, but with the March calls, being there are April open as well and as I said when opening them, it's a violation of risk management to have that much exposure, this allows me to correct that and deal with a little near term consolidation from what I see. If I only had March calls I'd probably still leave them open or maybe take partial profits and look to re-establish the full position at better prices. I'll update the GLD/gold charts next.

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