Bookkeeping: Took Profits In Gold Positions, Added US Dollar ETF
I decided to take profits in three gold positions in my trading account: GDX, AUY and NGD. These are some of the only positions that I have been long in my trading account. These positions are up very nicely as gold as run up over $1,000.
Also I decided to inititate a position in the PowerShares US Dollar Bullish ETF (UUP) since I think we might get a short-term bounce in the dollar.
I’m still long GDX and other gold positions in my Roth account (long-term account). Also, it’s worth noting that I’m very bearish on the dollar over a long-term perspective, and this is merely an attempt to trade short-term movements.