Friday, March 31, 2006

Gold

I bought some gold for the first time ever today (in my Roth IRA). This is through the Exchange Traded Fund GLD. Gold broke out of the trading range it was in and headed higher. And looks like going higher still... For several years now, gold has been rising and I put off buying because I held lots of Australian Dollars which traditionally have moved with gold... the link seems a bit broken now though (there was never a really good rationale for it). Also I had shares in a gold-mining firm (CRS.AX) which turned out to be rather a disaster...

I also bought more QQQQ put options in that account and sold Yahoo. So in my Roth there is 5 ounces of gold and around $20,000 of QQQQ shares sold short effectively. This is basically what the Prudent Bear mutual fund (BEARX) consists of.

I did a bunch of trades in my taxable Ameritrade accont too... am rather short...

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