GOLD / GLD

I haven't made a decision about whether I might take a long position in GLD, remember that GDX (Gold miners) is likely to be fairly correlated and if I took a GLD position it would be in leu of a GDX add to.

Gold has been acting as a flight to safety trade recently so if the market is to pullback, Gold / GLD would likely bounce and there are good 3C signals developing there suggesting just that.

Not all bounces are created equal. When I say a "Bounce in GLD" I'm talking about a bounce as in a day or a couple of days at most at this point, when I talk about a "Bounce in the market", which I've been trying not to use that term because I'm expecting something bigger when the market moves to the upside (not a new primary bull market, but stronger than a day or two).

So any GLD long would be for a very short term position much like GDX at this point.

Again, I'll get charts of that up too, you can probably tell the market is starting to move faster as far as 3C trade as I'm getting much busier and probably have not answered your email yet.