I was mightily impressed by GLD's performance today. So much so, I kept adding to the position until I had what is probably the most substantial long position in GLD that I've ever had in my life.
In the face of a surging US dollar and a plunging stock market, GLD tacked on 1.67% – – superb! More importantly, it has completed a very spiffy inverted H&S pattern which, in my estimation, provide a target price of $124.90 – – about ten dollars above current levels. I'm optimistic about GLD's near-term prospects as my biggest long position.
