The Long Bernanke QE2 Tail

Since September 1, 2010 the market has operated on the premise that it knows a secret and nothing can blunt the QE2 push.  You are seeing the endgame now.  Yesterdays gold action was typical, push up, struggle, drop.  Other markets will follow this pattern as we move towards the end of the second quarter.  As such, we will enter the transition quarter next week where QE2 starts to subside and deficit reduction moves to the forefront.

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