Gold Daily and Silver Weekly Charts - Metals Bears Stuffed - ISDA Declares Credit Event

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Published : March 10th, 2012
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Category : Opinions and Analysis

 

 

 

 

The early bear raid on the metals in honor of the Non-Farm Payrolls report fizzled and the shorts got stuffed as the metals rebounded back.

This was highly bullish action.

Late in the day the
ISDA declared the Greek bond action as a credit default event triggering the CDS. The market largely ignored it, but it did take the wind out of a fairly insubstantial equity rally.











 

 

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