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April 9, 2013

Critical Path

Today's gains across the precious metals sector were very constructive to our framework calling for an intermediate low in gold. However, I do not think this action qualifies as the lock-out day we are seeking. For the past six months, traders have been trained to sell these 3 to 5-day bounces, and I have to wonder how many traders did so today. What we really need to see ...

 

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