This is in the trading portfolio, might as well trade. I'm closing the DZZ (2x short GLD) position and replacing it short term with UGLD 3x long Gold ETN.
As I showed earlier, I expect this to be a counter trend bounce in GLD, I fully expect the larger trend to continue lower and as soon as the bounce is done, I'll be back in DZZ long.
If I were holding DZZ as a trend position I'd probably just leave it, but this is meant to be a trading position so I have enough evidence to make a trade here.
I'll post updated charts, but you saw the moves happening earlier today in the near term.
5 years ago
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