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The Almighty Dollar ~ Sell Gold Below 1249.70
These may be the times that try men’s souls.
Early last December 2009 we posted a sell on gold that profited until this week.
As Gold and panic hit new highs today at 1249.70, can financial salvation be as simple as saving the long-dismissed Dollar hitting new highs at 86.25?
Like GE NBC studios at Rockefeller Center, people watch the market go ballistic and bounce off the walls, with little access or exit.
Mr Market, pummeled relentlessly by Leveraged Hedge Funds, High Frequency Traders, Money Manglers and Proprietary Desks, gaps up and down on openings, whipsawing Main Street so much they no longer trust Wall Street and are looking for a safe place to hide.
The latest suspect in a 5-minute 5% sell off Thursday 6 May 2010 was a retail firm hedging its $74.2 Billion client book by selling 75,000 out of 842,514 e-Mini contracts in 20 minutes for a temporary trillion dollar loss in the equity markets.
http://www.cnbc.com/id/37151476
