Pic, thanks for you posts, for me 2 days are very important this month, first is 6th of August, ugly Job Report:

http://www.321gold.com/editorials/thomson_s/thomson_s_080310.html

Notice that I’ve highlighted the date of August 6th in yellow. That date is 3 days away, and together with the comex gold options expiry/rollover it forms the double feature gold movie, starring the banksters working to separate the world’s hedge funds and retail investors from their gold, with a terror plot that rivals any of the best Hollywood horror movie scripts.
The current year is verified by science as: 2010. Not 2008! There is actually no need for you to sell your gold to the banksters going into the Jobs Report "Movie", as they convince the funds to panic-sell.
There IS a need for you to join the banksters and buy gold from those they successfully panic into a selling frenzy, if it happens on cue, or at least hold your ground and understand you are watching the world’s greatest chart painters with unlimited money, take gold candy from babies in a huge gold nursery.

This will all lead to second and more iportant Date 10th of August when after Job Report we will have QE2. There are lot of things why that will be done this month and one thing is for sure that many investors are on holiday, nobody will watch that QE2 so badly so there will be no schock after few days but be prepared for Hyperinflation:

http://www.marketwatch.com/story/aussie-dollar-slips-after-rba-holds-rate-steady-2010-08-03?siteid=YAHOOB

Dollar falls as Fed mulls symbolic policy shift

The decision will likely depend largely on upcoming economic data, including the July jobs report on Friday , the newspaper said.

"We suspect that with mortgage rates already near record lows, Treasury yields near record lows and the spread near record lows, the bar for renewing quantitative easing next week is higher than the media report suggests , even if there are contingency discussions," said strategists at Brown Brothers Harriman.

Evidence of near-paralysis in the U.S. economy pushed U.S. yields consistently lower, and until yields bottom, the dollar will remain under pressure ," said Kathy Lien, director of currency research at Global Forex Trading.

This is actually according to past the best way to do something Big when lot of people are on Vacations.

Ok, let see why 10th of august can be very important day from the other side, but don't take this as the fact, just think of possibility:

http://revoltoftheplebs.wordpress.com/2010/08/03/august-forecast-cloudy-with-a-chance-of-mayhem/

The eighth month on the Gregorian calendar has a notoriously violent past. World War I kicked in to high gear on August 4, 1914 when Great Britain declared war on Germany (after they refused to withdraw from Belgium). World War II went up in smoke on August 9th, 1945 when the U.S. dropped its 2nd nuclear bomb—on the people of Japan—at Nagasaki. Will August 10th, 2010 go down in history as the beginning of World War III?

August is a month when public apathy to world affairs and politics is at an all time high. Stock and commodities markets are slow; people are either on vacation or getting their kids ready for school. What a better time to sneak in Armageddon while parents are more concerned about getting the family out to see the last of those summer movies or hitting the beach before the water gets too cold. World War III is imminent—and it will begin with a strike on Iran—possibly this month. So live it up folks, because this may be the last carefree summer you’ll be able to enjoy for a long time.

This last article is a little bit crazy, but you never know what can happen, I hope not for the 3rd one to happen, but I am sure that QE2 will come sooner that we think if not in August then in September. I am not sure how Market will react this time but Dollar can go only down in next days and weeks with some between dad cat bounce.

10th of August is very important date for sure, if QE2 will not come we could see big drop in Stock Market, if it comes there will be big drop in Dollar value, let see what will happen.

GLTA