$660 is Resistance

1. Looks like $660 is resistance. I think that is the last resistance before Gold can have a significant surge. But I don't really like what I am seeing from Gold today.

2. Another U.S. chopper down in Iraq? It seems another chopper was downed today, but it's unclear because the report refers to 3 helicopters being down in the last 2 weeks. But as you recall, I noted that a report a couple of days ago, mentioned that 3 choppers had been lost in the last ten days. [Edit: Yes, it was a 4th helicopter that was shotdown in the past couple of weeks. The first article wasn't very accurate. The U.S. command said two crew members were killed, and the top U.S. general conceded that insurgent ground fire has become more effective. I usually don't quote al-Queda sources, but I thought it was interesting that the article mentioned that n"n al-Qaida-affiliated group claimed responsibility and said its fighters had 'new ways' to attack American planes."]

3. TRE has been slammed, down over 10% in the last few days. It looks like a breakdown on heavy volume after a few weeks of narrow range consolidation, but hopefully a bottom may soon be near.

4. RGLD beat earnings estimates by 3 cents yesterday (24 cents vs. 21), but, with gold down by $10 today, RGLd is off by almost 1% since its earnings announcement.

5. It's 11am EST (1.5 hours into the trading day) and KBX has 700 shares traded. Lost and forgotten stock.

6. Still looking for that breakout on GOLD. Major resistance is between $23.75 and $24. Above $24 and GOLD should go over $30.

7. Bad news for Oil bulls. Ground hog Punxsutawney Phil failed to see his shadow today.