"In any event, we should not expect a quick snap back...range bound trading is more likely....800 might be new resistence."

By what measure or on what basis has lead you to this conclusion? In stark contradiction to your outlook for Gold, Commercials have accumulated massive short positions in the Greenback for weeks which suggests a large decline is in store for Uncle Buck and conversely PMs will resume their long-term uptrend. Nothing has changed except for unprecedented government meddling in otherwise free markets.

Bear in mind that no matter which sector an extended multi-year bear market decline occurs, you will find the long-term bear trend is often punctuated with many sudden sharp reversals resulting in *temporary* appreciations of magnitudes greater than those experienced in the bull market that preceded. It happenned in the infamous High Tech crash and now the Dollar is experiencing one of those short-term temporary reversals, so logically I expect a top between 80-81 USD or 101.50-102 on the Broad Dollar Index max.

Other places you might want to give sober thought to right now include the health of both WaMu & Lehman Bros which are making deathbed gurgling noises, hot on the heels of the latest Agency auction which was a huge failure in that foreigners shunned the stuff as if a skunk had just sprayed it soaking wet. The average Joe is hocked to the hilt and only sinking deeper every day as negative home equity cuts off his ability to finance spending & support the economy via credit, the Federal deficit is going parabolic, tax revenues are plummeting, the Fed has monetized a $trillion and counting at the begging bowl window plus up to $5 Trillion more courtesy F&F bankruptcy receivership (let's call a spade a spade and none of this "conservator" nonsense).

In contrast to this surplus of new debt which is getting harder to sell across the pond, record demand for real Gold & Silver goes largely unfilled as noone in their right mind will give up the Family's jewels in this trying time which screams "we've hit an iceberg so hold onto the damn lifejacket and pity the fools partying away in the US Titanic ballroom."

You might want to brush up on "Another's" thesis which years ago predicted the paper price of PMs would head to zero while the cash spot price headed to the moon as physical shortages manifest across the globe. I think we're seeing signs his prediction could be coming true before our very eyes, and if true, then one day the world will wake up (Hedge Funds, most Central Banks & Joe global citizen included) and Gold & Silver metal and equities will become King in an instant, leaving everyone else way behind. Bottom line - doddle and lose out on a once in a millenium opportunity for unprecedented wealth.