The pause at resistance continues. I have added a chart line to gold to help make it more visible.
I added some hedges to my bullion position today on the if/come of Bernanke and Draghi.
There was some intraday commentary on economics and the markets here.
Obama needs to do something to show he is serious about reform, even if he isn't. Geithner and Holder and a few of his key regulators are a significant impediment to his credibility as a leader of change and reform, but it is not likely that they will be replaced before the election. Obama is often careful to the point of timidity, caught in a web of indecision and conflicting priorities.
By the way, Obama's advisors are terrible, but Romney's are a cabal of neocons and neoliberals, in case you were looking for any comfort there. Comfort is an illusion without significant reform.
Will Le Charlatan Obama perform some grand gesture to rouse his long-suffering base now that the Wall Street donations well has been booked in this cycle? If he is going to do it, the time is at the end of the week, to take the edge off the other guy's convention rhetoric.
Let's see what happens.
