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Tuesday, May 16, 2006 12:40:11 PM
Market spike to their lowest levels of the day within the last 30 minutes as the absence of early leadership and some hesitation ahead of tomorrow's CPI report now weigh on the proceedings.
also housing market still not looking god putting pressure on the market.
gold drops to $689 down from its high around $725.
most retailers will be coming out with numbers in next couple of days. so far not looking good for retailers.......
the drop in good shows why paim has been trading flat for the day and size of trades have increased to todays avg trade size over 7million.
Its hard to find gold down, retail down and housing market down. this all shows mix signals to the market. i do think gold will stay in its trading range and as the housing market cont to slow gold will slip higher.
i see it breaking rest in the next couple of weeks if not months. but soon....
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