1074.40 IS THE NEW MAJOR LOW


THIS LATE IN THE CRIMEX SESSION ON A THURSDAY
IT'S HARD TO TELL WHAT GOLD MIGHT DO BEFORE OR
AFTER THE CLOSE AFTER SUCH A BIG HIT.
UP VOLUME ON THIS RALLY IS NOT THAT EXCITING AND
DOES NOT INDICATE BUYERS ARE MOVING IN IN GREAT VOLUME

SENATE BOOSTS DEBT CEILING LIMIT TO 14.3 TRILLION

WHY GOLD WOULD GO DOWN ON THIS NEWS IS NUTS1
THAT'S PROBABLY WHY THE BULLION BANKS WERE ORDERED
TO HIT GOLD HARD

GOLD TAKES A HUGE HIT OF OVER 5,000 CONTRACTS IN TWO MINUTES



GOLD DROPPING VERY FAST ON HUGE VOLUME
LOW IS REALLY AT 1074.70
GOLD DROPS ON ABOUT 15,000 CONTRACTS IN 5 MINUTES
THE BULLION BANKS HIT IT HARD BECAUSE NO OTHER
MARKETS DID ANYTHING UNUSUAL

GOLD STOPS AT THE 1ST 75% RETRACE POINT


GOLD LOOKS LIKE IT'S GOING TO 'COIL' HERE
AND MOVE HIGHER, BUT AT ANY TIME IT COULD
FALL HARD AS YOU HAVE SEEN MANY TIMES

STOCKS OFF ABOUT 180 POINTS, STARTING TO PULL GOLD LOWER


GOLD DROPS CLOSER TO THE YELLOW LOWER
UPTREND CHANNEL LINE

GOLD RETRACES MORE THAN 75%


LOWER THAN SHOWN HERE
WILL THE LOW HOLD, OR IS GOLD GOING TO TANK
ONCE MORE?

MARKETS ALL REVERSING HERE, GOLD MAY RALLY


GOLD COULD STILL FALL BEFORE THE RALLY, BUT
STOCKS, EURO, OIL ARE TURNING UP AND BONDS, YEN
ARE TURNING DOWN
DOLLAR IS A LITTLE HIGHER
IT IS NOT UNUSUAL FOR GOLD TO DIP JUST BEFORE IT
RALLIES

BONDS, YEN RISING WELL, NOT SUPPORTIVE OF HIGHER GOLD


STOCKS STILL FALLING, EURO MOVING DOWN
GOLD MAY RETEST THE LOWS

GOLD MAY MOVE LOWER AS STOCKS, OIL, EURO MOVE LOWER


GOLD DROPPED BELOW THE BLUE LOWER UPTREND
CHANNEL LINE BUT IS DANCING AROUND IT NOW
I SAY LOWER SHE GOES...MAYBE EVEN TO THE YELLOW
LOWER UPTREND CHANNEL LINE SHOWN AT THE BOTTOM
OF THE CHART

GOLD CONSOLIDATING HERE IN A LEDGE, SHOULD MOVE DOWN TO THE 75% RETRACE POINT BEFORE RALLYING


GOLD MAY FALL TO THE NEXT RETRACE POINT SHOWN
ALTHOUGH IT IS NOW ON THE LOWER BLUE UPTREND
CHANNEL LINE