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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (15902)	2/11/2016 8:32:11 AM
From: Goose94	Read Replies (1) \| Respond to of 202700

Accelerated Fear Buying on European Bank Risk Gold surged overnight as European bank shares were slammed on liquidity concerns. U.S. equity markets are currently set to post an open down more than 300 points and oil is once again at recent lows, in the mid- $26 range. I wrote a comment late last night giving my opinion on the performance of Fed Chair Janet Yellen yesterday. Basic conclusion: the Fed has lost control. Re-entering the market at $1,192 yesterday, after the Fed blabber ended, proved to be the correct move. I gave up $10 but as I wrote last night, I didn’t trust what was going to come out of Yellen’s mouth at the hearings. The bank situation in Europe is potentially worse than our issues here in 2008 and with Europe already with negative interest rate yields, Mario Draghi has very little in the way of ammunition. The contagion is now spilling in earnest to North American markets. Our favorite Fed Chair speaks again today. Hopefully the questions from Congress will be targeted on the banking issues in Europe and maybe the Fed will admit that raising rates in this environment is NOT an option. The spike in prices also can be attributed to the return of the HK market, after the Chinese New year. When they left on Friday, gold was $50 below the $12 handle. They jumped in to a thin market and created an exaggerated move when the Asian market opened. A range today is a pure guess: I suggest $1,227 to $1,248.