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[peregrine]

GLD seems to be completing a 5-3-5 correction off its 4/20/07 peak, which should entitle it to an upward retrace of some dimension. However, the weekly chart and to a lesser extent, the monthly chart don't look to be in position to support moves to new highs. Additionally, my seasonal charts really don't show lows until early to mid-July. Shopping elsewhere....for now.