Gold continues lower

http://cotstimer-how-it-works.blogspot.com/
COT's gold setup returned 661%
Georgia-Russia conflict fails to lift gold so far.

HOW LOW FOR OIL AND GOLD?

I have been following Palisades Research a free posting that gives a daily forecast for the S&P 500 and Nasdaq 100 indexes. (see link)
I think we will have a trading range market thru August and September and then correct to a new market low. Support is shown for oil, gold and $INDU.

Good luck and God bless.

As some of the readers of this blog know I love to golf. Today on hole 18 our 4-ball match came down to the final putt--I kept a poker face when both our opponents missed their 8 foot putts. So my partner and I won with the bets pressed 3and 1. I continue to work as a full time Ear Nose and Throat surgeon. For me the golf course is a "Pleasant Distraction" or is even more? One of my regular foresome partners(An OBGYN Doc) says, "A round of golf is far better than a Prozac."

I have been reading The Practicing Mind (Bringing Discipline and Focus Into Your Life)

http://www.amazon.com/Practicing-Mind-Bringing-Discipline-Focus
/dp/0977657205/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1218247262&sr=8-1

DISTRIBUTION DAY FOR BROAD MARKETS

A distribution day occurs when at least one of the major indexes closes down in higher volume than the prior session's level.

The increase in volume signals selling by mutual funds and other institutional investors — the market's principal driving force.

Friday I took profits on BVN. If we get a little rally in PM stocks HL could be a good short also. Will gold correct all the way down to 750?