Zeev's Turnips Patch-No Politics (ZEEV)

[fabian]

Markets [TBbonds, stocks, commodities, now Gold] really sniffing and whiffing deflation in the air and...reacting accordingly.

That does not mean they are right, but they sure could be. There are reasons to take that possibility seriously. [explained earlier in the week]
Fabian
A real wacking for gold today.
Good excuse for the big boys to [short] press downside and trigger a boatload of stop selling on gold futures [which begets more stop hits and selling] as the big boys do from time to time to stay uberwealthy.
Summer's not usually a good time for gold. Could be the start of a correction.
Still gold- chart wise- hasn't broken it's 50 day which was just hit...
not broken...yet, that is.
Looks like UUP broke below it's 50.
Fabian

Remember at the dollar top a month ago..Pro Dollar sentiment among traders was 98%??
Which lead us to say...likely surprise strength in Euro due.