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THE TODD MARKET TIMER
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(September 30, 1997) METALS: GOLD–The chart for the close on Monday and does not show gold's big upmove on Tuesday. Nevertheless, we will need a bit more convincing. Gold has made sharp upmoves before only to go back to sleep. History teaches us that when a move has been this long and consistent, it takes several retests before a real turn finally gets underway. Gold has been in a downtrend for 13 years. Let's be very circumspect about following strength.
Stephen Todd
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