an tSionna 4.08.10 {Shhhhhh-Gold Is Breaking Out!}

Its been a while since we've taken a look at a chart of the gold ETF {GLD}.  As you can see it's quietly staged a breakout this week.  It's also not over sold except in our shortest time frame by our work.  Gold might pull back a bit now given this recent move. It's up about 4% in about a trading week.   In fact as I write this, the gold futures are trading down.  However, this type of chart suggests that gold and the GLD still has the potential to move to the upside.  Again just looking at probabilities.  GLD could defy what we think will happen and trade right back down so do your own homework if you are not a client of our firm.  Not to be construed as a recommendation to buy or sell this or any other security!

*Long GLD in certain client accounts.