If you got into Gold or GLD take some of your profits this weekend
Just a quick post for those who have followed my suggestion to buy into gold earlier this year. Gold and the ETF GLD have experienced a nice run during the first quarter of 2008. With this past week's decline in commodities, I decided to take some of my profits from GLD. If you have yet to place a stop loss order, I suggest that you do now. Consider the fact that the price has dropped below $90 a share. My target was $95 and I ordered the stop loss late last week. I hope you reaped some benefits as well.
Keep in mind all is not lost in GLD, the commodities expert Jim Rodgers who co-founded the now closed Quantum Fund with George Soros has been quoted saying that Gold will continued to surge as much as $3,500. But remember- you gotta know when to hold’em and when to fold’em. To your success.
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