I shorted more on the uptrend when Cramer stated that Gold would go up forever. I was a little early on my short previously, but I am not wrong. I am averaging up and going to get this one right.
100 points too early on your short. That is a lot of heat to take. I assume your approach right now is to Martingale it and wait for it to come down eventually... yeah that might work...
Fortunately for him, the volatility of gold is below some favorites of mine (for trading purposes) as NYX, LEH, or even C, on most days. So, he just might get out of this with something left, unless he leverages his ... errant judgement.