GLD. Time to speculate?

Posted on May 20, 2011 by WHC Bassetti in Letters

Today's power bar has lured us into a trade on gold.  This is speculative territory.  While the bar is outside the downtrend line the pattern is not by any means a perfect alpha-beta-gamma pattern, and more prudent traders and investors will wait until the horizontal line is pierced on strength.  And even more prudent traders will wait till a new high is made.

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