The day after I cover my shorts in the GLD, gold breaks down and falls more than 2%. It seems the double-top I've harped on so much is finally coming to fruition. I think gold sees the $1600 level over the next few weeks so I'm getting short here via the Proshares Ultrashort Gold ETF (GLL) . When the precious metals fall, they fall hard! Don't wait to long to make this play.
This is not a recommendation to buy or sell any securities. DAK was long GLL at time of publication but positions can change at anytime.
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