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New trade – adding Gold ETF (GLD)

Gold retreated to its 200 day MA today and I decided to add a few shares to my holding, since I consider this attractive price. I see some similarities and pattern in GLD corrections, (see the chart below) and thus I believe we are in similar pattern as in 2008.

GLD

Also I want to be buying Gold as some protection against FED and its money printing. I believe, there is more devaluation of dollar coming so as a long term investment, GLD is a good choice. Today I added a few shares (as far as my available cash allowed) and if the stock continues falling, I will be adding more shares.

12/18/2012 13:40:36 Bought 5 GLD @ 160.99

Total shares held as of today: 12





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