28.05.2010 - New upleg for gold GLD ETF
From Marketoracle.co.uk: Is the "re-risk" trade back on for gold? Last week everyone was "de-risking," remember? The pattern carved out in the SPDR Gold Shares since the May 12 all-time high at 122.24 argues that major "de-risking" (otherwise known as profit-taking) emerged into the May 21 low at 114.01 (-7%). All of the action off the 5/21 low into yesterday's high at 119.08 has the right look of a new upleg in the GLD that should revisit the May high in the hours/days directly ahead..............................................Full Article: Source
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