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January 28, 2012

Watch and Wait

Last week I noted my perception that gold traders were beginning to recognize the 29-Dec low and were waiting for a pull-back in order to initiate positions. Such an environment will always punish latecomers by making them chase price rather than delivering the correction they seek. Indeed, in under three sessions, we saw gold melt up nearly $100. The next step of this process will be ...

 

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