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March 17, 2014

Time for $1200 Gold Again?

As you know from the weekend letter, my attitude toward gold's rally was already filled with skepticism. Today's honker of a bearish reversal did little to allay those concerns, and, in fact, I decided to exit my gold position. Technically, the sale is premature, as the proper time to exit would involve at least a close below the daily UB, if not a failed daily cycle. However, gold's $200 run off the December low is already healthy for an intermediate cycle rally, and in light of ...

 

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