Out of Gold

I would have like to stay in my gold trade longer, but after yesterday's drop DGP fell below my 10% stop so I sold it this morning. It's up slightly this morning and I was tempted to hang on since it never breached it's 120 day MA. It's likely that whatever ends up happening in Europe(and the US for that matter) will be inflationary and bullish for gold in the long term. This wasn't a long term trade though and in the short term, I'm less certain of gold's upside due to the potential of central banks selling their bullion and possible panic selling if European or US markets start getting hammered.

• Sell 50 shares of DGP @ $56.83

I exit this trade with a gain of 5.5% in one month.

The Numbers

• Cash: +$2,841.50
• Long Stock: -$2,841.50
• Margin: +$1,600