what updates?
These updates:
Cover that 152 GLD short yet cypher?
this thread was started 3/13
Bitcoin 5.40
Gold 1690.
today 6/5
Bitcoin 5.40 (even)
Gold 1618 (down ~4%)
BTC is almost up!!! (3 months after the call
) Gold still hasn't collapsed. BTC is slightly outperforming gold.
AAPL 562 (just a few more days)
GLD 157 (cypher is upside down on his short)
not upside down yet since it was hedged with GDXJ. flat.
152-157=-5
Claiming the -5 doesn't count because you held GDXJ doesn't change the GLD holding. There's nothing wrong with hedging, but it's erroneous to compare a single instrument position to a hedged position out of context. Doubling up on the GLD short stays within GLD and remains valid for comparison with the information above.
If you want to add GDXJ to the list on its own and derive values from that, go ahead.
| Date | GLD(S) | GDXJ(L) |
| 5/31 | 152.00 | 19.00 |
| 6/4 | 157.00 | 21.00 |
| -5.00 | +2.00 |
| -3.2% | +10.5% |
So from that, you would've had to hold ~1/3rd of your GLD position in GDXJ to offset the GLD short, unless you were trading options; not a clean apples to apples comparison.
you're a piece of work. those aren't my updates, they're silverbox's who freely admits he cherry picks.
so what's your point? if it's that i lost money in the short term shorting GLD, wrong, b/c of the GDXJ long hedge.
none of this changes my bearish position on gold, either. pm's have had a nice counter trend bounce after which i'm betting they go down. ok, so?
and your initial point was that hedging was somehow not playing by the rules. what rules? this is a forum. you're lucky i've even bothered to share what i'm doing. or perhaps i should be opaque like you? and you in fact did buy puts on pm's last summer. don't make me go back and find the quote.
edit: maybe we ought to tally up silverbox's score on his gold miners and point to that as some sort of evidence?
