Our idea in gold is beginning to bear fruit with gold opening at new all-time highs and the GLD ETF following suite with an open at new all-time highs as well. We have a good price from several points lower so we can now hold and wait for the move to take hold. Stops can be moved to the $97 area which will enable us to be profitable on the trade even if it fails to develop.
Now is the time to wait and watch. First stop for some profit-taking is $125 in GLD.
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