So far, support has held in June gold. We have a small profit. Adjust stops so that if we take out Monday’s low at 1656, you bail on the longs. Upside target is 1678 to 1682. If they really get after it, we could test 1700 once again.
The cattle long is working. Monday we gapped higher on the charts. A second day of settlement in March Feeders will make me feel more comfortable with the move. Fundamentally, that cattle on feed report Friday could not have been any friendlier to the bulls. We just don’t have the cattle out there.
CER
