March 6, 2009

GLD

3/5 closed at resistance (about 91.96). Also closed barely above 20 day EMA (91.80). Volume higher than 3/4, but still below 20 day EMA. Little momentum to push through resistance? However, the 1%+ drop on 3/4 had lowest volume since 2/13. 3/4 also basically held at 50 day EMA (88.54) as the low was barely below at 88.45. May churn between 20 (also resistance) and 50 day EMA in short term? Possible short with stop just above resistance? Too tight. Possible stop at this week's high of 93.61? 3/5 close 91.99.
3/6 bm

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