High Gold Price

High gold price is ready to correct....now. Gold made its all time high in Jan80 at 873 We most likely will see resistance in this area.

This entire pattern could be a construted as a cup, with the formation of the handle to begin shortly.

So far silver has hot taken out Nov07 highs, or even closed the down gap created in those highs, in the pit traded silver. A intraday high of 1575 would be needed to close that gap and a price close above that to turn this market up.

The 20% decline in gold, if it is going to occur should begin no later than Jan 20, 2008

That decline will set up the buying opportunity of this decade in gold. Price moves up 90% in the last 10% of the bull market. One mini put on at the right time should produce 10k.

$300 move times $33.33 a contract = 10k profit

If the move extends it could add another 7k to your account.

Always use stop loss protection.