We did have a decent-size range and saw a continuation of yesterday's bounce off 55 and test of resistance up to 70.
Dave Meger
Everybody seems to be talking about the strength in the dollar. That gave an impetus for some profit-taking in the gold today.
strength today gold talking
We had some early fund buying this morning. And we had some midday trade buying.
morning early trade
We look for near-term resistance at the psychological area just above 50 and more importantly around 54.
psychological resistance
We opened the day stronger and continued a little higher, and then as a slight surprise to some, ended up holding the positive tone throughout the day - whereas sometimes on days like this in the past you've given up the bulk of those gains. Silver, specifically, closed relatively close to the highs.
days past surprise positive day close
It was a combination of long liquidation and fund selling. We do see rising copper stocks and that is some of the impetus behind the recent pressure.
pressure rising selling
We see the writing on the wall of some changes that could be taking place in the copper market. However, at this point, we're not necessarily at a point where we can call for that yet.
writing market wall place call
We had three girls under 100. That was our goal. We had two under 100 last week and will look for four under 100 in our next tournament. I was real pleased with our performance.
real girls goal performance
I didn't see one boat out there. It definitely wasn't fishing weather.
weather fishing boat
It was continued fund buying.
resistance
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