Thursday, December 8, 2011

$MF, the European Non Vacation, Charting Gold $GLD $GC_F

Jon Corzine of $MF infamy is going before the House Ag committee today. Aside from pre-written testimony expect the usual ‘I take the 5th’ dog and pony show. $1.2 bln remains missing at last check.

A late day rumor lifted the Dow to a gain 46 points in the final half hour surrounding talk of a $600 bln lnternational Monetary Fund loan. Those rumors are dead this morning and stocks are set to open lower. Gold is also headed south, as the dollar is up vs the euro on Draghi’s measures (see more below). Markets do not like the 3 yr loan scheme.  Read more here...

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