Actually, I will reverse at some point if it goes below the 50SMA.
The next 50SMA cross will be above my entry point with certainty given where I bought. More importantly I think there is a chance that it is higher than right now. Therefore, I basically sit back knowing there will be down days and up days, but I have an edge.
I don't think Gold will go below $700, and will take profits on my shorts around there and higher. I think this is a 2 year trade, not a short term trade.
Nod: Wasn't AAPL guidance lower? ($5.5). I admire your patience, and your courage. The latter is because I believe the upside in those stocks and in gold may be about to end, but I wish you well by wishing I would be wrong so that you be right and make some money.
It seems to me that Gold looks good today....... on the short side.