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Gold Finished With Recovery Rally?


Thursday April 10th, 2008
Gold Finished With Recovery Rally?
by Mike Paulenoff www.MPTrader.com
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.

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