Friday, September 14, 2007

GLD unable to hold gains

GLD pops up early, but slips to a loss to the close (chart). Not exactly encouraging behavior, but not unusual either. Some chart readers are seeing a double top where I am seeing a breakout. I've seen this pattern before, a breakout from a flat base with minor resistance at an old high just above the base.

I placed an order to sell a strangle on IWM but didn't get filled. I still feel out of step with the market. My limited trading the past few weeks reflects that.

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