Everyone and their brother expects follow through to the upside…the market has disconnected..but that does not matter anymore. Tyler Durden at Zerohedge will surely be trying to prop up his increasingly wrong and frail case for Gold and Silver by looking for any hint that could be positive for the EURO. It does appear that even that has already started. Traditionally any EURO call out of Goldman Tax is WRONG…however, the way I see it, Thomas STOMPer occasionally gets the 10th out of the 10th call right…just enough so clients can make just enough of the money back that the lost while Goldman traded against them, that they can afford to stay clients. I think that this is one of those times…I think a fairly fast move to 1.20 sounds like a very reasonable interpretation to me. Still, the COT “commercials open interest data” are a quite popular theme currently for getting people looking for any excuse to hold gold or silver and who are in desperate need of help some optimism...or those who are intent on getting long the EURO. Overall, using "Commericals" as a basis for going long the EURO is a ridiculous argument when you really look at the way the data works. People spouting it do not understand how to read the data.
On another note, if these setups play out as anticipated then Ron Paul will likely be getting a lot more attention…as I have indicated previously was likely in earlier posts.
