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MPTrader Mid-Day Minute
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| Thu Apr 10th 2008
Gold Finished With Recovery Rally?
By Mike Paulenoff, www.MPTrader.com Yesterday my work was telling me to await one more new recovery high into the 93.20/60 area prior to considering a short position in the streetTRACKS Gold Shares (NYSE: GLD). Naturally, prices have weakened this morning. However, I am NOT convinced that the recovery rally off of the 4/01 low at 86.05 is complete on the upside. I will stand aside for a while longer prior to committing $ to the short side of the GLD. For more of Mike Paulenoff, sign up for a Free 15-Day Trial to his ETF Trading Diary. |
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