Gold Down $1.40 Today..................

Today's trade was CHOPPY, THIN, and EXTREMELY VOLATILE. The last few weeks have been very tough to get a handle on the Gold. The main reason is due to a very over-done up/down range in the Crude oil lately. (for no apparent reasons)................A 220 pt. range and
over 90 + pts. Lower (at Gold close ) pulled the gold market lower on the day.
The Crude oil market has got to be killing the customer public......Because with all the resource's
I have access to for information I 'm behind the Pit Traders.....
Every time the Gold looked to rally it was met with heavy Bear (short seller) resistance.
It seemed to be the battle for $660.00 today.....both sectors (BULLS/BEARS) used the Crude oil market as an indicator today. The problem however was the Gold would not rally as strong with a Crude rally versus a stronger break when the Crude began breaking. The market traded resistance point well....but with the whippy Crude oil you couldn't feel comfortable holding any
positions (LONG OR SHORT)..I am content to buy Bull/ Call spreads and will not be holding position during this Crude oil insanity !!! Only a $5.30 range in gold today.........
HIGH....661.80 LOW...656.50 CLOSE....657.30... (WHAT A TOUGH $5.00 RANGE)

The following are my guideline numbers for 2/8 Thursday........April Gold

resistance # 2.....................663.00
resistance # 1.....................656.50
pivot...........658.50
support................................655.00
support................................653.50

resistance = point to sell
support = point to buy
pivot = point to determine direction

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