Same Old BLSBS

Three steps forward, two steps back.

Gosh, we've never seen this happen before. The Price of Comex gold was ready to finish the week in the green and above $1400...and then, as if by magic, the BLSBS prints some outrageously overstated number and the metals get crushed.

And, in the end, what about this is surprising? Exactly nothing. The Banks had:

  • Forced a double top to be painted near $1440
  • Run total OI to the highest level in three years
  • Sucked in all remaining specs

Then, when you throw in a bond market that was overbought AND the whole "always sell a little...

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Key Economic Events Week of 11/28

11/28 12:00 ET Goon Bullard
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11/29 9:00 ET Case-Shiller home prices
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12/1 9:45 ET S&P Manu PMI
12/1 10:00 ET ISM Manu PMI
12/2 8:30 ET BLSBS

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