LONG: ProShares UltraShort S&P 500 (SDS)
Two new trades to report this morning. If you saw my last post, you’ll notice that I mentioned some resistance overhead that the S&P could be running into. So far, that is exactly what has happened. As a result, I put my capital to work on that theory and went long SDS which is the Ultrashort of the S&P at $22.55.
LONG: SPDR Gold Trust Shares (GLD)
My other position is long on GLD – the Gold ETF, which is bouncing nicely…so far…off of the long-term support level from November 2008; that is what you call a major long-term trend-line! And if it breaks that trend-line, I will likely sell my position and flip over to the short side. Its a major inflection point that. depending on which side of the trend-line it ends up on, will see a major move in that direction.
