GLD doesn't need to hold an ounce of gold to track golds price.
Especially if its not redeemable for Gold.
I don't really think its a case of "there is no way GLD could have bought so much gold."
And much more a case of "There is absolutely no point in GLD buying
any gold."
I just trudged through that entire article, and all I could think was "what a load of "buy me now please" bullshit.
I'd of expected more from MO.
QUOTE
The Bottom Line. If theories cannot explain tactical and strategic price action and lead to profitable trades, then they are useless for anything but amusement.
So when they get it right to within a few hours/$'s are they still theories?..?........?.......