Gold Plunges

Gold futures for April delivery fell $59, or 5.9 percent, to $945.30 an ounce on the Comex division of the New York Mercantile Exchange. That marked the biggest percentage drop for a most-active contract since June 13, 2006. The metal climbed in the previous six sessions, gaining 3.3 percent. I look for continuing correction--watching for fibonacci support and increasing volume before next buy signal. This may signal a short term shift in gold market psychology but the long term bull market remains intact.

I rolled over my spy puts into next month. Bear market continues for broad market.