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I cant help feel that temporay top may form at the 1300 (or $130 level) for gold.
Which means a pullback of 23% or 38% or $200 t0 $400 dollars on gold.(Divide by 10 for GLD)
You say how, those that are leverage on the LONGS for GLD get margin calls. Why, stocks dont get QE2 as the Asians say NO, I dont know how, but its on the table !
A break above 1300 on GOLD could be explosive !
Non subscribers : http://chart.ly/y3thjec
GoldLongView.jpg
Which means a pullback of 23% or 38% or $200 t0 $400 dollars on gold.(Divide by 10 for GLD)
You say how, those that are leverage on the LONGS for GLD get margin calls. Why, stocks dont get QE2 as the Asians say NO, I dont know how, but its on the table !
A break above 1300 on GOLD could be explosive !
Non subscribers : http://chart.ly/y3thjec
GoldLongView.jpg