Buying GDX @ $35.65
5% position
After our great decision to sell GDX at $37.37, we'll buy it back here lower than our original purchase price!
We've been saying we don't want to go into the weekend 20% short of equities, so have been making moves all day to reduce that short exposure.
We like gold as a trade here still and bought more yesterday in GLD.
So while the set-up for GDX (gold miners) isn't perfect because we think equities broadly will go lower, it's a fairly low-risk way to add equity exposure for the long weekend.
5% position
After our great decision to sell GDX at $37.37, we'll buy it back here lower than our original purchase price!
We've been saying we don't want to go into the weekend 20% short of equities, so have been making moves all day to reduce that short exposure.
We like gold as a trade here still and bought more yesterday in GLD.
So while the set-up for GDX (gold miners) isn't perfect because we think equities broadly will go lower, it's a fairly low-risk way to add equity exposure for the long weekend.
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