The GLD short, which has been by far, the longest standing Active Trade on the site, has finally hit it’s second and final target. GLD was last shorted over a year ago back on Jan 30, 2012 at 168.97 and gapped below the final target (140) today for a 19.5% gain from entry. Remember, when prices gap above (longs) or below (shorts) the target level, it is the opening price that is used to calculate the returns on the trade, as any standing limit orders would be bypassed on the gap and filled at the open (i.e.- the more favorable price). Therefore, T2 was hit on the opening gap of 136.00 today.
As T2 was the final target for GLD, consider booking full profits as this trade will now be removed from the Active Trades category. Updated weekly chart below preceded by a couple of the weekly charts. Normally, I might consider adding GLD as a long here but I do have mixed thoughts on the metal which I plan to discuss soon, possibly in video format.
