Post Election Sell Off........

Today's Gold market rejected following a very strong Crude Oil move today choosing instead to BREAK $9.00 dollars and settling at 618.50 for the session.
Many traders believe there is a TOP HEAVY feel in the December Gold Option Positions.
With just a few weeks before December Gold Options expire I believe the seasoned traders have learned it's usually a good idea to take profits, liquidate, or roll their positions early and not wait until the last minute. (avoid option wasteland)
The Gold has enjoyed a nice BULL run and I believe traders are taking profits (futures & options) post Elections and prior to Thursday's reports.

HIGH...629.20 LOW.....618.00 CLOSE....618.50

The following are my guideline numbers for Thursday 11/09 for December Gold............

resistance # 2.............................633.00
resistance # 1.............................626.00
pivot ....................622.00
support # 1.............................615.00
support # 2............................611.00



resistance = possible place to sell market
support = possible place to buy market
pivot = possible point to determine direction


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