by John Galt April 8, 2012 20:50 ET And here we all were expecting gold to become a worthless relic and tanking to $100 per ounce if we believed every talking head in the regime, the Fed, and various Bubblevisions. Ambrose Evans-Pritchard unloads a power salvo in tonight’s commentary in the U.K. Telegraph: Gold crash on Fed tightening and euro salvation looks premature (Click on the title above to read the column in full) Just when everyone assumed the Fed had a clue in controlling…
by John Galt April 8, 2012 20:00 ET A quick heads up: US equity futures are averaging a decline between 120-140 Dow points at the open, 15-18 S&P 500 points. (Quotes from FINVIZ.com) Gold is also anticipating a weak US open but not with the type of dramatic move one would expect: (Quote from FOREXPROS.com) Depending on how China and Europe behave, tomorrow could be very interesting or more than likely a sharp opening decline followed by a weak rally recovering half of the…
by John Galt April 8, 2012 11:00 ET The anticipation building up for the open of U.S. futures tonight is highlighted by the action in the Israeli and Arab markets which were open for trading today. In lieu of the non-farm payroll data, the theory is that there will be a decent sized plunge at the open of the US markets. The Saudi market probably illustrates the pattern the S&P 500 and DJIA will probably take; a sharp dive at the open with an afternoon…
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