Good buying point for a trade in GLD

Gold miners reversal two days in a row + Gold cannot break down 1280 for many days: probably good to guy GLD now for a trade up to 126.5

 

Good entry if you want to buy for long-term. I have some just for diversification, but there isn't a near-term catalyst at the moment; so I won't be surprised it heads a bit lower. Keep in mind economy still has huge deflationary pressure. Despite QE, Core PCE is still close to 1%.

 

Gld trading is so profitable, the rates can go low but we can expect the rates too high in future