We tweeted this before Bernanke’s testimony Tuesday:
Cheap to hedge $GLD against a greater than 20% drop between now & September – 0.8%. Longs should consider it. twitter.com/PortfolioArmor…
— Portfolio Armor (@PortfolioArmor) February 29, 2012
Hedging costs had jumped 46% for GLD by the end of the day, as we noted in this Seeking Alpha article.