One Minute Macro Update - Market Quake

Tyler Durden's picture

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papaswamp's picture

When is it going to be obvious that Europe's troubles won't go away with another bailout? The best thing is to default. They can never pay back the debt why torture the people for bad decisions by banks and govts?

GFORCE's picture

The price action in gold will confuse many but it's been a long time coming. Golds been a paranoid speculative trade, rallying when Gaddaffi sneezes etc.

But when a REAL event risk comes, the rush to dollars and the unwind of profits/speculative positions will create a downdraft in gold.

The case is still there for physical. But at these prices, there's better options.

Out of interest, Charles Nenner predicted a top around 1,440 falling to 1,000 at onset of '11. Could be within 5 bucks if we follow through with europe etc.

jesse livermoore's picture

central banks were net buyers at these levels .   the chinese imported more gold in the first two months of 11  than all of 2010.   but hey lets just ignore the facts

tiger7905's picture

One must wonder if this Japan event can cause a crisis for the USD that Russell has talked about leading to a significant jump in gold prices?

Turk is now calling for $8000 gold!

10kby2k's picture

It takes a nuclear tragedy to get a 2% selloff?  Market has been so overdue for a correction. This price move is minor.  If anything, it promotes an excuse for the FED to give the alcoholic economy a fresh case of prime liquor. Santelli is ranting right now...i root for him to say something that will make the talking heads shit their pants. Liesman and his guest are such pussies.  JUST TELL US THE TRUTH, I hate lies and denial. The world is correct...the USA should be hated on many levels. I am NOT proud to be an American.  Bunch of smart ass whiners.

Crumbles's picture

Careful, Dude - recall what happened to the Dixie Chicks when they made the same  (NOT  proud) comment -

Oh, wait - Bush the Lesser is gone - although his spirit and that of The Dick seem hard to exorcise from the WH.

Never mind.  Flame Off

trendybull459's picture

People get together,anyone who cares about basic problem of our existance FED invited to vote in our poll and read out latest comments on yahoo FED article about QE3:

Voting poll is waiting for you click,take 5sec to make your choice,we must to reach critical level to be recognised by others to tove too!Thank you and keep all us together regardless government effords,we appreciate if you link us to other polls,blogs,sites to let people or your friiends to vote FED existence

sbenard's picture

Where's "Bubbles" Bernanke when we need him?