The Fred Report - Weekly October 24, 2011
The stock market continues to act well, but we have started to hit some overbought readings, and it is possible that we experience the first real correction of the current uptrend this week. In spite of the technical breakdown, bonds could bounce for a week here, and we would use that bounce to further lighten positions. We remain with a 10-month price target of 210 on GLD, or 2100/Oz for the nearby COMEX gold future, whichever occurs first.
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