Wednesday, November 3, 2010

Gold (GLD) and Silver (SLV) Tank as Someone that Does Not Rhyme with Foldman Machs Front Runs the Fed

As always I am using the ETFs rather than the actual commodity due to real time charting.  Gold and Silver both just took a big hit as someone with access to government** is front running the Fed.  In related news, the SEC enforcers are watching porn as they chase down Joe6Pack financial advisor in Florida who scammed someone out of $2.5M.  Meanwhile, it is business as usual at the bunny ranch known as Wall Street.

Of course in the perfectly correlated, student body left trading environment - equities had to take a hit.

So if you believe in the power of insider front running, the Fed will come in low versus expectation.

**technically the Fed is not part of government although it is rumored Geithner and Bernanke now share living quarters.


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