Wednesday, May 23, 2012

Lowering my target on UGA.

Based on the idea that GLD, SLV, SPY broke out above the longer term channel and now must collapse down violoently. the UGA channel (drawn be ignoring the upper channel break) is calling for 45 to 46ish.
That's plenty of room for all assets to collapse much further.  I think I'll take all positions off and look to nibble long when that area is tested...

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