Obviously i'm not going to brag everytime something goes right. This is just pure luck;

Gold futures sank $30 in electronic trading after the Federal Reserve released its policy statement Tuesday, adding to minor losses in the regular session chalked up to a higher dollar and reports Germany opposed a bigger regional rescue fund.

After the close, gold for February delivery GC2G -1.92% sank more than $30 and was recently down $29.10, or 1.8%, at $1,634 an ounce.

Nonetheless so far the market seems to go my way, i'm not confident enough yet to double up on this position, let's see how it goes. This wasn't supposed to be a really short trade. To get off in a few days. I really think it's possible gold has a long way to go down.

If i'm going -5% on the opening of my trade, i'm still getting out.

Cautiously i'm going to put on a short on GLD. The price has had an extreme runaway in the past. Has recently started to falter it's tremendous advance. Neither reasons to put my neck on the block. Yet the buzz it had for quite some time, setting high after high has gone away.
It lost some of it's appeal to add it to any stockportfolio as a hedge against market risk, given that it showed recently it can make sharp moves down in a short time. Some bulls have been arguing present and future demand from China. Recently i'm noticing more and more evidence of at least the chance of a significant downturn in the Chinese growth show.
The downside risk of this trade remains unlimited and i will initiate a small position. If it runs away from me i'll cut it at a 10% loss. If it starts to move in the right direction i will gradually increase the position size. I can change my mind on any macro developments.

GLD is at 1705$ now let's see how it goes.

Brief introduction;
For the most part i'm a medium- to longterm investor. I'm always interested in getting good trades on. And this blog is mostly about those shorter- to medium term trades. If i see value in currency plays, commodity trades or in hedging my stock exposure with a trade on a ETF or index future i will blog about my thoughts here. None of it should be taken as professional investment advice.