Taking the Loss on Ford

Well, my short on Ford was not a good idea. The auto sales numbers in Europe, which I should have considered when I made the short have been up three months in a row now. Ford sells a lot in Europe. Even though U.S. sales have struggled since the expiration of "cash for clunkers", the rest of the world is important for Ford. Also, GM announced that it expects to pay back part of the government funds. If GM is leaving the bailouts too early for political reasons (people are sick of bailouts, and CEO's want to get paid) then that's also good for Ford.

Buy to cover 7% F @ $9.37, - 26%.

On to other stuff, the gold charts look good for GLD, ABX, and IAG, in that order. NG's chart doesn't look as good. ABX has more support, while IAG clearly has tremendous momentum.

Buy 10% IAG @ $16.53