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QE-Off, Reality-On But Merkel/Van Rompuy Save The Day (For Now)
We watched, we dipped, and then we ripped. Disappointment at no new QE drove Silver down first, then Oil and then the rest of the risk basket tumbled notably. EURUSD dumped 60pips, ES dropped 7-8pts to Monday's close, Treasury Yields dropped 6-7bps, Commodities (Gold, Silver, Oil, Copper) all fell 1-2% (with Silver worst). But then we ripped as Van Rompuy and Merkel started chatting about some progress in Europe. This pulled EURUSD up to unch, Gold and Silver retraced half of their spike down, stocks recovered all of their drop and reached up to VWAP (rather conveniently) where selling volume re-appeared. Notably, ... (full story)
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- Jun 20, 2012 1:11pm Jun 20, 2012 1:11pm
- oneightwenty
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100 Pips per day can keep the bosses away.
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