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Trade adjustment – Gold (GLD) addition #2

I am posting this trade a few days later than when I actually opened it. If you want to see my trades earlier, you can do so on my Facebook page, where I typically post my trade at the same time when it happens.

Yesterday I added a few shares of GLD into my portfolio as Gold suffered a huge sell off. Some analysts call it the biggest sell off in Gold history. Although many of them predict further drop in price of the yellow metal, I decided to take a trailing buy price approach. Last Friday I entered a conditional order, which didn’t materialized and on Monday I lowered the price. The trigger fired yesterday and I bought 7 shares of GLD. You can see the trade history on my Facebook.

I wrote in my older posts and on Facebook that I believe that this sell off is an overreaction of investors once again, caused by panic and stop loss triggers.

I added shares to my portfolio:

04/16/2013 09:44:52 Bought 7 GLD @ 134.43

If the stock continues falling as is predicted by some, I will be adding more shares.

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