Closed Position On Claymore Gold ETF (CGL.TO) – Take Some Profit

Claymore Gold ETF - CGL.TO on Toronto Stock Exchange TSX TMX
I recently sold off my position in Claymore’s Gold ETF that is traded on the Toronto Stock Exchange (CGL.TO). I bought at $12.45 in early January and just sold at $13.58 which is roughly a return of 9% minus commissions. That is just under 9% return for 5 months, that is not bad considering money market and guaranteed investment certificates (GIC’s) are interest are very low.

Mind you this doesn’t mean I will be out of investing in gold for good. The recent correction downward of about $80 might be just a correction. I am watching and forecasting that it may go down a bit lower to about $1450 level at which time if the charts look right I will get back into CGL.TO.

by Das Brain

Please read my disclaimer.

This entry was posted on Monday, May 16th, 2011 at 9:03 am and is filed under ETF, Technical Analysis. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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