Saturday, December 31, 2011

GLD: A Great Set-Up!

I am sure you have heard all of the pronouncements that the bull market in gold is over. All sorts of reasons have been given from strength in the Dollar to the "you better run for the hills" price is now under the 200 day moving average for the first time in 10 months. I am not going to "poo poo" the price action, because it has been ugly, but all of the data I can muster shows that the fundamental and technical picture remains bright for gold.
First, this downdraft still remains within

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