GO or NO GO!

COMEX:GC1!   Gold Futures
We are still short GC1! ...however, we didn't add to our shorts. While we expected a move back to the breakdown area the buying has been very heavy so we will keep stops in and see if we can't test the most recent lows. With a conflict happening in Iraq, FOMC meeting and Aunt Janet speaking this week we could see swift moves which could take us out. If that happens then we will re-evaluate and look for another setup.