Gold and banks

Gold will drop today. My prediction still stands that gold will correct to around 1080 (1040-1200). I will buy 200 IMG (C$) @ 16.50.

Whitney reduced her estimates on GS and MS which will put pressure on financial sectors. Bank of America and Citi's new equity raise are very expensive. It does not bode well in short term for these stocks.

Overall, the market will be weak today.