GLD Sell-off Is a Golden Opportunity

SPDR Gold Trust (NYSE: GLD ) This ETF seeks to replicate the price of gold
bullion net of expenses. GLD had a terrific run from $80 a year ago to the
recent new breakout high at over $175. But last week's decision by the CME to
increase margin requirements and its very steep line of advance tell us that a
pullback is likely before the bullish advance resumes. The first attractive
entry point is at the 20-day moving average (green line), but extreme selling
could take GLD back to its 50-day moving average at $155. Since commodity ETFs
may be subject to greater volatility than traditional ETFs, they may not be
suitable for all investors. Traders should enter stop-loss orders to protect
against large losses.