GLD, Gold ETF

GLD feb 2012

Watching BNN,  I have noticed that there are now quite a number of commentators that are pretty well certain that gold will now go to $2000 and a lot further. Before you embrace this concept keep in mind that even if the 1-2, 1-2 scenario that I proposed a little while ago did not work out ( it has not yet been entirely negated!), there are still other very bearish counts. The one above is the most prominent.  The wave 2 here is a “running” flat. The seems to support a turn very soon.