Thursday, December 22, 2011

Fade the Gold Pop With GLD Options

Tuesday's surprise market rally brought good tidings and cheer to beleaguered
bulls who were in desperate need of a holiday pick-me-up. Unfortunately, the
majority of the rise took place overnight. This means that unless you jumped in
sometime during Monday's bloodbath, you likely missed the move. Along with the
rise in equities, money also found its way into gold as SPDR Gold Trust (NYSE:
GLD ) rose 1.36% on the day. Despite the recent three-day run in GLD, it remains
in a downtrend below its 20-, 50- and 200-day moving averages.

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