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Tuesday, March 13, 2012

GDX update - 3/13/12

I thought GDX might form a flag today, but the low of the flag went lower than the bottom of the pole so it can not be a flag today. This doesn't mean it won't go up tomorrow, it just means there is too much risk in either direction for a buy. A gap up tomorrow with a flag testing an old low would be a buy, but it is not there yet. There are actually several possibilities for tomorrow which I will be watching.
Happy trading.

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