The Fred Report - Weekly February 19, 2013

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Our target for this move remains 156 and we may reduce exposure at that time.  Short-term indicators on GLD suggest a bounce is quite close – how far it carries, or how it fails, will tell us a lot.  USO has started to decline as expected now that the seasonally strong period is over and it could test all the way back to 31 or even break the recent low.

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