Friday, October 22, 2010

Update of GLD Bearish Wolfe wave



A couple weeks ago I showed that GLD was giving us a test of top. As of today, the weekly is showing a bearish Trader Vic2B reversal which is consistent with a developing Wolfe Wave.

I sold all my longs since January and even starting a tiny position in DZZ (ultra-short GLD). Shorting individual miners could be another strategy-- many are exhibiting bearish patterns as well.

2 comments:

  1. Gold may be in a temporary decline but over the next ten years it will go much much higher. Thats unless world governments make owning gold illegal once again.

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