Closed my STOXX 600 banks short position and took some pretty severe damage there. Kept leveraged gold position and actually increased it from the dip. Let's see what happens.
Pretty big rescue package from EU. I'm just wondering where does all this money come from. Everybody is running a deficit while they should run surplus to offset raising healthcare and pension costs in the future. In some point of time they may have to turn on the printing presses and that will be good for gold.
My non-leveraged gold positions are long term investments. The leveraged ones are short term as volatility will do severe damage to leveraged ETFs long term. Besides their costs are also higher.