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Re: A Little GLD At The Open Might Be A Good Trade
Gold is now trading at about $735 which is just a couple of dollars from the $730 "panic point". A bounce off the current level and a rally here would be positive. But a rally here that fails to get gold back above the $800 is really meaningless. The larger picture shows that gold had a rally failure at $1,000. Gold prices… -
Re: A Little GLD At The Open Might Be A Good Trade
Regardless of that military action, I liked the action in gold on Friday as it rose from the dead at $680 to close at $734. I think Monday will be an up day as well. Though $739 offers some good resistance. But if big bank fails before then, or the FED decides to dump $10 TRILLION into the economy on Tuesday, that will be… -
Re: A Little GLD At The Open Might Be A Good Trade
But a rally here that fails to get gold back above the $800 is really meaningless. The larger picture shows that gold had a rally failure at $1,000. Gold prices could zig zag between 680 and 980 and all it would be is a flip flop. there is no clear trend for gold now. Why a move above $750 is meaningfull is to stem the…
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