Gold?! Yawa! Above $1680 now @1681. Silver up 7% since Friday, now above $42... (Silver trade still in play since June). All these after US passes their debt plan... Aug 20th is yet to come for the eurozone...
As usual SNB's intervention is already taking in loads of water less than a day of spooking CHF bulls. Hopeless venture. Since 2010 SNB has used billions to stem the bulls and lost all together. Who's money is being lost here? Taxpayers... Swiss guys should boot those goons at SNB for losing their billions in these worthless interventions...
BoJ intervention - I'm give it a half life of 2 days, then we will be seeing new lows!
The major warning for crosses that depend on risk appetite is currently flashing on as S&P and Dow go negative for the year. In Europe, it is worse, support levels getting trumped since last week. And the most bizarre thing is that while swissie has been on rhino charge, their stock market has tanked 20% (that a bear territory there).
Bank of America (BAC) breaks below $9.50... Goldman Sachs below $130... XLF index breaking down. Global financial stocks are now turning bearish. Italian banks are not bear, but dead-end bears... Soon Spain will join them.
But Mr Market will turn around against these extremes when the time comes. These interventionists should wait for that turn around. Then they can intervene in harmony with Mr Market. What part of market dynamics don't these central planners understand. The days when they ran the market is over! E.g. Apple has more cash-flow than the US Treasury! What the heavens!? Will US Treasury seek for bailout from Apple in future?
Anyone watching USDCAD. This one is turning bullish!
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!