Friday, June 22, 2007
If Uncle Buck fails at support noted, he may very well be headed for the wedge bottom and very long term and major support around 80. This dovetails well with the short term bullish scenario for gold, miners, commods and even possibly the pig as we still expect long term interest rates to moderate in the very short term before moving higher. We shall see. If Buck breaks up and out of the wedge it would be a good thing to have your contingencies in place.