Sure, $GLD is getting shellacked again here, losing 8% in 6 weeks & now the 200dma.
People are starting to whisper behind its back… Gold is the new $RIMM …
Yet, within the larger context, gold’s just trading near the middle of the giant pennant of lower highs and higher lows that began forming after the blow off top in September of 2011.
Im looking for resolution of this pennant in 2013 but certainly not on this dipsy do…