The sell off today didn't show any panic behind the move. The VIX barely moved up even with the market down almost 100 points. Gold was the big winner today. I told you about the expected move in gold last week. Since then it has made a nice move up. NEM has moved up almost $3 since my recommendation. Gold could definitely continue to move higher, but it's a riskier entry right here. The GLD has been up almost 5 days in a row. I'm still watching many of the picks from yesterday. AAPL and BIDU aren't yet ready for bearish trades. We'll need more motivated selling. VCI still looks very good for a bullish trade. If I don't see any panic in the selling, I'll be content to just wait for the pull back and look to get into more bullish positions.
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