Reluctantly, another bear position is sold. QID does its job for an 18% gain. A little less protection yes, but then again risk is a little less (short term) now than it was on Monday, no?
Besides, what am I protecting? Precious metals stocks with an emphasis on gold. It's not like I am hedging regular bull stocks.
Incidentally, since they were first mentioned on the blog I have a wrap up on the 'bull' stocks SIGM and FTEK. SIGM was sold last week for a modest profit of around 4% or something like that. FTEK was forced out of my hands a couple days ago on lousy price action for a loss that more than wiped out the SIGM profit. FTEK then grossed out the market with underwhelming Q results and forecast, and dropped some more.
Dat's da mahkits, and we move on.
