My neighbour is eating a Thai salad that smells 100% onion although she says its mainly cabbage.
I am swooning and the smell of onions do not go down well with the barrage of bad news coming out by the minute.
Looks like the markets have entered a phase of DEADLY ADDICTION. No news is good enough or can ever be for anyone to feel any optimism. They want easing, interventions and life support.
Yet the contradiction is that things are bad if the central bankers and IMF cave in to their demands. And the central banks are smart to keep the market hanging on and save their bullets for the real deal, ie. when Greece defaults.
It may sound a little heartless and inhumane but perhaps, a natural catastrophy would be timely for us all right now ? Doesn’t Greece sit on an earthquake belt ? It is near enough to Pompeii and Vesuvius, southern Italy ?
However, since I cannot control the weather or tectonic movements, I have been looking at the Fear & Greed charts for Gold. And I admit, my biased eye is pleased with what I see.
Looks robust enough to me with the price above the 50 day moving average and Greed Indicator lighting up nicely. Near term target 1660 at least.