Sure, C’mon In
Yea, we’re open – not really – but if you’re
dumb enough savvy enough to place those orders, we will surely fill ‘em.
Most markets are closed today for Good Friday, but some are open for 45 minutes, and some are open with $4.00 - $6.00 spreads [read XAUUSD].
I think I read somewhere where Jesus drove the moneychangers out of the temple – he didn’t invite them in. A $6.00 spread? I’ll bet the spread is tighter in an Outer Mongolia mining town. Oh well, such is life on an NFP Friday that also happens to be a Holiday.
Speaking of which, even Chalky Soetero’s sock puppets over at the BLS [Bureau of Lies and Statistics] couldn’t seasonally adjust there way to a bullish employment report today. By Wall Street standards a total miss at +120K, as the whisper number was above + 200K.
The way gold is acting [although it is hard to tell with 2 people actually trading with the dealer with a $5 + spread], some believe more QE is on the table sooner rather than later. We certainly can’t derive anything from today’s price action and will have to wait until Monday for the full impact. The way stock index futures and currency pairs are reacting [lower], I don’t think gold is out of the woods just yet and another test of 1612 and 1600 is in the cards sometime next week.
Have an enjoyable Holiday weekend everyone.