Submitted by: Francis Soyer
Today's trading session is setting up to be a volatile one. We have the VIX (Volatility Index) a measure of fear in the market in the low 30's (Bearish) with futures higher 50 bips as of 8:00 a.m. on the Spiders. Do not be surprised to see the gap up get sold quickly and a possible sell off with some bad news out of American Airlines, credit downgrades and downgrade reviews for sovereign debt. Other than that I am not seeing anything in favor of bulls.
Seeking Alpha says: Buy Gold Ahead Of QE3
American Airlines Files For Bankruptcy
Moody's Puts EU on Downgrade Review
Europe Needs Six Trillion to Save Itself
Gold and Silver Rebound
Money Printing to Cause Significant Rise in Gold and Silver in 2012
Mark Faber: "I don't think that gold is particularly expensive. I think it's just the value of paper money that has completely imploded."
SocGen: Gold Highly Sensitive to US QE. Gold to $8,500 to catch up with the increase in monetary supply
Fitch Cuts U.S. Credit to Outlook Negative
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