Gold's 2% Rally Beats The Bears Back... For Now
What a day for the bears onWednesday. CPI came out at 8:30 EST, and the equities fell 500 points, gold fell$15 and the dollar spiked. By the end of the day, gold reversed by $50, the Dow by 600 and the dollar got pounded, another beating for the bears.
The action looked more like shortcovering as the bears got squeezed again. The excitement is back, and buyersare everywhere, because this time is different. This action looks like a greatselling opportunity in equities and gold but a buy in the dollar. The priceaction suggests selling into these rallies; the tops are in and markets shouldbe sold.
The Fed Ponzi scheme is startingto fail. Their last hope is to keep pressure on the dollar. History tells usthe Fed will fail. They are clueless and lost while trying to borrow their wayout of debt. As with all Ponzi schemes and manipulation attempts, this one willfail, because this time is not different.
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