Sold all GLD. I have no GLD now.
Bought KGC for the money from GLD.
Have little cach left, will deploy it in MFN tomorrow, but only if they fall to $4.20-4.30 area.
Explanation is that gold went only 6.5 % down, but KGC - 11.5%,
hopefully KGC will be 10 % up tomorrow, and gold only 5%, which will allow me to swap back. Note this is NOT a speculation, because I like KGC as much as I like GLD, so I don't mind to keep it as well.
We will see what future will show...
2008-10-22
Stockexchange swap trade
Labels:
Gold,
Mining Stocks
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