Here we go being clever again….

Posted on Jun 05, 2009 by WHC Bassetti in Letters

We're selling GLD gold today, based on what might be an exhaustion gap up and downgap. We think (based on gut, no analysis involved) that the breakout is not going to occur yet. If you want to sit through the downwave (and there may not be one) you'll be all right in the long run. We just think that a trading tactic here is justified, especially with the dollar rebounding. When this becomes a trend market we will ride it all the way. That time is coming.

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