The Fred Report - Mid Week Update October 17, 2012
We think SPY can rally close to, but not much through 150, so we suggest writing calls on a move to 146. A down week in bonds could set the stage for a bond rally, and pullback in stocks. Gold has tried to correct as well, and we hope to see more weakness, but as mentioned our accumulation models on GLD remain quite strong so this may be it.
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