I took a short position on GLD last month

Discussion in 'Trading' started by KINGOFSHORTS, Oct 24, 2008.

  1. When I heard ads on the radio about selling your 401K and buying gold before it hits 2000+ and when I saw that the TV was marketing gold as the surebet for this bearmarket.

    I knew then that gold was set for a drop. Too many people loaded up and needed to unwind positions on the lemmings by touting gold as the solution to the bearmarket.

    I wonder how many folks bought gold at those high prices only to get scalped by a market with large bid/ask spreads and limited liquidity.

    I covered GLD today.