Longer-Term Market Trends Message Board

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Strategies & Market Trends : Longer-Term Market Trends

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From: ItsAllCyclical	7/22/2008 2:56:26 PM
	of 3209

Possibly another whip saw, but I excited out of all gold/PM positions today. Don't like the looks of this: Message 24776595 Gold still following oil and while ST inventory report could help tomorrow the IT trend is more than likely down and potentially down substantially. Gold itself still looks decent here and may only hit 900 area, but 800 or lower still possible. With the way the juniors have been acting not ruling anything out Leaders breaking down no need to be a hero. Sold half my RGLD near the top this morn and the rest at 36+. Not a bad ST trade. Maybe some basic EW did help as I noticed we had five waves up from late May (also hit the top of the fork). GG breakdown a bit further to fall before support hit. Should send HUI below 430 again and lead to possible 400 (or so).

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