DOW sacrifice

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Warp10

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DOW sacrifice

posted on Aug 11, 2009 09:55AM

Tomorrow is the 10-year Note auction

Thursday is the 30-year Bond auction

Today starts the 2-day FOMC (Fed) meeting

Tomorrow at 2:15 p.m. is the Fed meeting announcement

This is a huge week for the Fed, so the Dollar has to be stronger to show the world how wonderful life is, smooth sailing ahead, no worries, etc.

Therefore, this isn't a good week for gold with a stronger Dollar, so expect plenty of gold manipulation to guarantee no gold upside is possible. Since bonds have to be stronger, that usually means equities are weaker. With the DOW close to 9300, the PPT can let the Dow slip 300 points and still be over 9000 after the auctions and Fed meeting this week. I'd bet that was the main reason for the manipulated DOW rally the past few days, to provide some slack for the Treasury auctions.