Friday, January 22, 2010

Buy GLD (sell puts)

Buy GLD via selling Feb 92 puts
I put my fishing line in the water on GLD as it nears minor support at 106. Stock market action is tempting as the sell off enters day three and VIX is racheting up.

I am taking on water on my existing SPY position and will hold. TLT is looking pretty good right now.

Long SPY, TLT, GLD

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