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  • Green Light, Green Light!

    In This Issue..

    * FOMC minutes make it a Risk On Day!
    * Gold hits $1,180!
    * Germany's ZEW is bang on with their forecast!
    * Russia to buy loonies?

    It's a Risk On Day, full on, no 'kind of' today! Or at least that's how it looks as I begin to write this morning... The Big Dog, euro, is back over 1.50 this morning, and Gold is trading at $1,177! What brought about this full on Risk On day?

    Well... It was the Fed's FOMC meeting minutes... And, when I read what the Fed Heads had to say, I had one song in my mind... Hey! You! Get off of my cloud! Because that's where their collective heads are with these minutes, folks... The Fed Heads viewed the U.S. economy on firmer footing and expects the growth to continue in the 4th QTR... Yeah, right, and I've got some swamp land I'd like to sell you! Snake Oil salesmen these guys!

    Any way... The Fed Heads also said that the dollar's depreciation had been 'orderly'... With no mention of doing anything to stop the depreciation! Green light, Green light, Green light... How many of these Green lights do traders and you need to realize that the Fed isn't going to stop the dollar's decline? And How about the Treasury? Oh! That's right, they're too busy shoving negative yields down people's throats! OK, I'm getting all ticked off, and I really don't feel like doing that today, so I'm going to talk about something else, fast!...
  • Gold Vending Machines!

    In This Issue..

    * More range trading...
    * SNB doesn't target the franc...
    * Norges Bank cuts rate but looks forward...
    * Buy your gold and Snickers!

    Good day... And a Tub Thumpin' Thursday to you! It was 95 here yesterday, and forecast to be even warmer, or should I say hotter, today! WOW! Like overnight, it turned to summer, after the coldest, most wet, spring I can ever recall... I know, I'll get 100 emails reminding me that summer doesn't officially start until next week... I'm just talking about the summer-like weather!

    The currencies remained in that range I talked about yesterday, with a slight bias to sell dollars, but not much of one. Crude Oil prices moved higher on the day and overnight, which doesn't play well with a dollar rally, and therefore, has pushed the dollar down a bit... But again, we're talking minor moves. It's as if someone (traders) are waiting for something BIG to happen with data, the Fed, the Treasury, before taking one direction....