Wednesday, June 10, 2009

DOW DOWN 75, EURO, YEN, OIL DOWN, DOLLAR NEAR HIGHS OF DAY


Gold sold off going into and on the close, sold off a bit more, then rallied a bit
but didn't go far before pulling back in a tight range.

Already volatile markets were moved even more radically as a result of
the ten year bond auction which apparently drove bond yields higher as the
bonds sold off.

Gold now moving lower with wild up and down trading in one minute
intervals where gold falls, then rises all the way up, only to fall right back down in
a $2 dollar range.
The thin blue bottom line of the uptrend channel seems to be a support area for now