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Strategies & Market Trends : Ride the Tiger with CD

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To: TheSlowLane who wrote (52654)	5/24/2006 12:04:11 PM
From: Taikun	Read Replies (1) of 313057

TSL, I am finding the new ETF GDX to be an excellent hedging tool. Options on XAU and HUI have always been very expensive with huge spreads (OK if you're selling not if you're buying) but GDX options are far cheaper. finance.yahoo.com My wager is that the miners will bottom in 2-3 weeks, so I have purchased a great deal of GDX $34, 35 and 36 June Puts. My portfolio is up a nice amount today, partly due to GDX and as well profits on calls written on PD, NG, GG and HUI. I also followed Jack Chan's trade into the Horizon BetaPro Gold Bear, which performs similarly to the SPPIX in the US. hbpfunds.com The trend IS your friend, and I think the trend is down - for now. I remain a MT and LT gold bull. D

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