Methodology: each issue's direction is a live signal — long/short opens or holds a position, neutral means flat, and every direction change opens, flips, or closes it. Returns are direction-aware (a short gains when the price falls) and compound across positions from first observation to the latest issue. "Price move" is the stock's own raw change, shown separately. Neither represents actual portfolio performance.
Brief History (10 issues)
Friday -6.76% to HK$96.5 as gold loses $4,000 and BofA warns the slide is far from over, with the market pricing 50% odds of a September hike. Sitting 1.6% above the HK$95 hard stop, we won't wait for a Monday gap — closing the long. Even a +169% interim profit couldn't save the price.
Down 6.9% this morning at HK$96.40, just 1.5% above the HK$95 stop — the high-beta bill of a gold-squeeze day; tomorrow it bounces or discipline takes over
Up 2.5% this morning back above the HK$100 mark at HK$101.70, escape velocity holding; stop stays HK$95
Up 5.6% this morning at HK$103.00, hitting escape velocity off the stop line — last week's patience just paid interest; stop stays HK$95
Down 1.4% to HK$98.30, 3.4% above the HK$95 hard stop; gold steadied but this didn't follow — no bounce next week and discipline takes over
Down 0.5% in weak consolidation with gold still soft; the HK$95 hard stop stands a third day — a break means out, no debate
Down 5.8% as hike odds battered gold; the HK$95 hard stop is the last line — if it breaks, no excuses
-1.3%, long -3.1%; high-vol chop until gold steadies — HK$95 stop
-4.6%, long -4.5%; the gold spinoff swings hard, near the 20-day, hold
Up 14% in a day — the Zijin gold spinoff has huge torque, still 60% below its post-listing high