well, for what its worth, and i know this is probably blasphemy here, but i've been starting to consider the possibility of a very powerful trend reversal for the dollar which spells doom for gold...something JP hasn't really factored in. fundamentals yes...but when psychology turns, its hard to stop.

obviously i'm in the dollar-is-crap-camp and our-economy-is-crap-camp, however the other economies aren't looking particularly strong either. one of my favorite phrases that i've come across lately is that this is basically an ugly contest amongst the currencies.

anyhoo...what i saw happening (and mind you this is coming from a drunk goldbug) is that trichet and the EU came out and said 'hey, we're having some problems over here too...'

that caused the dollar to start moving up. not too big, but *just* enough to start hitting some stop-loss orders on the euro and other assorted crap currencies.

i'm a consultant and i build systems mostly for hedge funds. my client right now is one that is trading FX. i don't build the models, per se, but i provide technology in the ECN space and i can tell you that when certain signals are hit, watch out... i've had a few system outages because the volume is just overwhelming.

what i really need are some stop-loss / sell signals on these banks and broker-dealers. unfortunately, ben has turned to the dark side and the force is strong with him...

anyway...a toast!

to the dollar winning gold in the ugly currency competition at the olympics!