I'll be traveling over the next two weeks, so a very brief update here.
Nothing really surprising happened last week in gold, as the important $1695 level held on a closing basis.
I know Screwtape readers are probably sick of the following monthly chart, but it's been my main moneymaker in 2012 (well, aside from my lucrative gig stripping at bachelorette parties).
I sold my puts from last week at the bottom of the channel:
With the 300-day moving average (of daily highs) functioning as support yet again, I must say the gold chart looks subtly better to my eyes than it did last week, and I wouldn't be surprised if 2012 closes strong. But I'm squared away for the year and will be sitting it out.
Both the ^HUI chart from last week and the gold Safe Haven Quotient chart ($GOLD:$CRB) touched their important support points last weeks, and are worth watching.
See you in a few weeks!
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