Tuesday, June 26, 2012


                                EU Summit List Of Participants

It’s only Tuesday, yet once again markets are held hostage through the next weekend, as the caterers ramp up yet again for another clown summit that is going to “fix” things in Europe.

“No seriously, this time we really, really mean it. As soon as the shrimp cerviche is finished we are going to really tackle the issues. Well, maybe after the raspberry soufflé for sure.”

“Uhm, yea whatever.”

So, expect the usual Central Planner nonsense all week; yup it’s fixed, Merkel says “Nien”. That the beggars, also known as “PIGS”, will be yakking all week with hand out and then trying to coerce Germany for more money, should be good entertainment. After all, when you are totally bankrupt and threaten to bring the system down, you are entitled to name your conditions – natch.

Anybody but me noticing hardly anybody is trading gold anymore? Volume is down, and except when the Central Planners got a 10,000 lot at-the-market to send prices down sharply in 2 seconds, intra day ranges and volatility aren’t that hot either. Gee, who could have seen this coming?

Once the weekend buffet summit is over, expect nothing new and the assault of the EURUSD to begin in earnest. It should be quite a show.

Have a good day everyone.


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