Long stock long more gold

I bought a bunch on the trend line bounce at 1157. My stop has moved to break even. Hopefully it'll just go on up and up and up and never look back.

 

Congrats! New high for both SPX and GC...

I am scaling out over the next 30-50% rise.

 

It's the biggest bullmarket of our lifetime!!!!

(I only posted the smilies so contrarians can see the complacency going wild and start shorting gold tommorow.)

 

Moved stop to 1175 on the 1200 break. Will add if we break 1225.

 

Can you feel it, Ivanovich? Gold fever?

 

I had to close all my precious metal positions (GC, SI, PL) last week as they became too extended from their averages (by my measures). Should that change I'll either buy them back in a couple of months (possibly much higher) or short them should they drop significantly.

 

May I ask to which currency you converted?

 

Bought them in USD, and sold them in USD.

All the Comex/Nymex metal contracts are denominated in USD.

 

Yes, and it's making me very afraid of my positions. The CoT report shows that everyone, their mother and their dog is long gold.

 

I have the same thing -- but I am still seeing 30-50% upside. I have took some off the table and raised my stop loss etc.