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imo, this is not the time to cover. it looks substantially weak from where i am sitting. could be any day, but not today.

nice free-fall move.

still short - picking up downside momentum again.

im seeing many China related shocks that are looking ready to fall, imo.

if there is not significant downside movement in the short-term i will be very surprised.

lol

QIDs price volitility is 35, requiring more capital for the same percentage move.

shorting QLD offers a low-capital alternative. this trade looks interesting with a price volitility of 40

resting exactly on lower trend line imo, still looking incredibly bearish - still short

still short - there is absolutely no reason to cover this position in the forseeable future... unless there is substantial trend channel support or support at the 200 MA - one of these will most likely trigger a cover.

well, your handle is "risky"

there is no doubt imo, that this was a significant market move today, technically. it changed the tone of many underlying charts across sectors as well. im not calling for the end of the world, but technically todays action most certainly bearish.

im not familiar with the rule of 20 - can you explain? thanks

now REALLY picking up steam to the downside.

you want balls? ill show you balls... i just bought RACK no joke. but then again i got massively short the last three days so i can afford it! =)

up 2.8% on the entire account since the start of the new year.

its just a trade that has cleared 6.17%. i was hoping to get some substantive opinions on its price action either yay or nay just for discussion.

this trade has also worked out well - note i posted the day before i entered the position.

i entered this trade on 1/10/07 on the gap down. this was a very high probability entry. i side-stepped all of the washout action in gold since May 06 and re-entered here. luck has nothing to do with it. =)

Fast Money, for whatever thats worth - hey at least they dont disguise advertising on this site - just said gold is due for a "monster rally" if it closes above 655.