http://www.biiwii.blogspot.com
http://www.biiwii.com
Sturdy overnight turnover and hardy 2-way action with a buy-side bias could be encouraging going forward...why?...well, we seem to have reached a GSR equilibrium in the low 40s, currently ~42.50 perhaps indicating that the hyperbolic punditsphere that has gorged itself on silver fraud, backwardization, manipulation, shortages and outlandish price determinations is finally fatigued. The GSR number is well within its 'liquidity' range which we know we have, and please keep it coming Tim & Ben, so gold can resume being the dog that wags the tail. In fact as of last night we received the latest gold open interest figures and as of Tuesday it had increased by ~15,000 to a total of ~502,000 contracts; the absolute number remains relatively low. Option vols have regained the 15 level, still cheap relatively, and there was distinct activity in June 1500 calls yesterday. Today: let the world-class toadies and ass-kissers who allowed Qaddafi to nurture cowardly terrorism for years now zealously pursue him similar to the stand-up job they've performed on financial fraud. So, stick with the facts and do keep an eye on the rhetoric that ensues from tomorrow's election in Ireland which may provide further contemporary nuance to that tried old adage, 'Up the Irish'
