Going for Gold

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It’s been a good day so far (and a comic slap in the face to everything Yellen did yesterday……..just take a look at currency markets). I’m balancing my zillions of shorts with carefully-selected longs, and the best charts to my eyes are precious metals and miners. I’m long gold and a variety of gold miners. Gold seems to have a pretty easy path up, at least for a few points:

0319-gld

Here’s a closer look, illustrating the base that was completed yesterday, and successfully challenged today.

0319-gldclose

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