Tuesday, March 19, 2013

GLD turning anemic

I have been watching and playing GLD for the past couple of weeks. It should have sky rocketed by now. It has been lethargic, moving up in fits and starts. It could be that GLD is in a triangle as shown in the chart below. The points that led me to believe upside in GLD are still valid but it should have been on fire by now. I closed all my GLD calls yesterday in the morning and am sitting on the fence to see where it goes from here. Today's action should be a tell.

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