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U.S. & World

GLD Buy Low Sell High

By on March 8, 2013

A few weeks ago we wrote an article when GLD (the gold ETF) was rapidly declining outlining where it would likely find support and stop its decline.

Many people called us out saying that it would likely continue downward given the momentum of the move down and how rapidly it was declining.

A few days after our previous article GLD stopped its decline right neat 150 and has held that level for a couple of weeks.

As you can see from the chart GLD is holding steady at 150 and will likely make a move higher soon. So whats our trade? We’re buying the October 150 call and selling the October 175 call. If you don’t feel comfortable with options then we recommend you buy here at the support and ride the price action to the 170175 level.

GLD Analysis

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