Marc De Mesel: First 3% Short on Gold Taken
Took first positions shorting Gold: Puts bought with cash + selling Gold ETF $GLD, borrowing it, selling it & getting cash. Also shorting overvalued Gold Miners ( $SKE, $FSX, $DV, $ABBRF), but potential losses too high here so hedging by longing undervalued gold miners ( $SGI).
With gold correcting recently from $2100 to $1900 I'm now focused on building my long position in undervalued gold miners like Wesdome Gold Mines, Kirkland Lake Gold, Dundee Precious Metals and Superior Gold. And later hoping to also build much bigger short position in Gold, Silver and overvalued Gold miners of not 3%, but 30% total if it continues to make new highs.
Here portfolio in detail:
https://twitter.com/MarcDeMesel/status/1294218875463180288
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