Fool’s gold?

Posted on Jul 20, 2009 by WHC Bassetti in Letters

These are signals in gold. The fearless speculator has to take them. Maybe the fearless but wary speculator doesn't. Our take is that the nearby tops are of such strong resistance that nothing will happen here. In other words we wouldn't make a trend trade till the highs were cleared. But if you are agile and willing to jump in and out there may be a trade here. (And one of these days...) In this case we tend to think that this is more dollar weakness than gold strength.

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