Algokid
Long

UPDATE : Still long gold

AMEX:GLD   SPDR GOLD TRUST
151 3 7
GLD             came really close to closing below it's 10 Month MA , but didn't . The trade remains open.

Algo
I would exercise a fair amount of caution in GLD - I have a target of 144.21 but that is also a reversal and without follow through - it could get quite messy quickly.
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It looks like the past 6 months it has been closing over and under that moving average:
Feb= closed over it
Mar= closed under, stayed under Apr, May
Jun= closed over it, stayed completely over it in July.
+1 Reply
true, this is the first time in a while that the trade remains open for a second month. We 'll see how this works out
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