The Euro pared losses over night rallying for a second day….

Over the weekend i read somewhere ther is a rumor of another 15-20% margin hike coming in gold.

True or not it is a shame that central banks and markets are trying to push investors out of perceived safe havens.

Gold is trading down $7 @ $1,631.60

Europe’s markets and banks are experiencing a bounce. Call it hope or a bear market rally, but we will take it as U.S. futures trade higher on Europe’s gains.

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Gold, silver and platinum are getting smoked right now, with silver leading the way lower by almost 6%.

The Japanese markets are getting crushed again, currently saddled at new 52 week lows- off by 2% on the session.

and so the world nervously  waits…..

After gapping up 120 points on the Dow futures, they have been slowly but surely reduced to 18 points, as global pessimism grips the emotions of dog brained futures traders.

Without saying downgrades are coming Beers implies that there will be consequences for inaction; even for Germany and France.

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Nothing significant came of this weekend. The ECB will try to convince the world that current funds are sufficient; that they need not to raise more capital.

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The Nikkei is down by 1.21%

Currently up roughly 1%

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This article and paper written shows why the Euro zone could break up faster than most think….

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GDP slowdown seems unavoidable at this point and threatens to exacerbate the sovereign debt crisis.

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This article is not that significant other than to magnify how confused the ECB is over their current dilemma.

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No. Ticker 1-week Return
1 ZSL 56.40
2 TVIX 45.56
3 ERY 42.37
4 EDZ 38.56
5 LHB 35.04
6 SMN 33.80
7 YANG 33.30
8 DRV 29.49
9 FAZ 29.42
10 TZA 28.52
11 SRTY 27.80
12 DUG 27.11
13 FXP 26.75
14 BZQ 25.72
15 MWN 25.64
16 DUST 24.53
17 EEV 24.43
18 TMF 24.07
19 DPK 23.25
20 SPXU 21.78
21 VXX 21.44
22 VIXY 21.43
23 VIIX 21.36
24 BXDC 20.50
25 SKK 20.39
————————–
No. Ticker 1-week Return
1 RUSL -44.16
2 AGQ -42.50
3 MATL -34.21
4 COWL -33.48
5 ERX -32.85
6 EDC -32.38
7 LBJ -30.10
8 YINN -28.59
9 UYM -27.56
10 FAS -25.41
11 DRN -25.20
12 TNA -24.39
13 DBS -24.12
14 XPP -23.23
15 DIG -23.11
16 NUGT -23.07
17 SLV -23.00
18 BRIL -22.78
19 PSLV -22.76
20 EET -22.49
21 CU -22.40
22 MWJ -22.33
23 TMV -21.76
24 DZK -21.18
25 BDD -20.62

WOW is all one can say about the insanity in our banking system.

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DOW currently up 50, Nasdaq up 27, & the S&P is up 10 bones. We have been red and green today.

Markets have shown a day of calm after a global sell off.

Art Cashin has been on point and today he described  a snenario where we would see choppy trade followed by a final capitulation sell day and then the big rally the market seems to be hinting at.

Check out Art’s commentary

Many emerging market  central banks took action to strengthen their currencies.

They are worried and trying to get ahead of slow global growth and a 25% correction in equity markets.

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Market caps over $1 billion
No. Ticker % Change Market Cap
1 YOKU 17.82 2,870,000,000
2 PNM 15.24 1,390,000,000
3 DANG 13.73 3,160,000,000
4 FINL 10.58 1,080,000,000
5 MLHR 9.02 1,150,000,000
6 P 8.86 2,220,000,000
7 CEA 8.62 5,440,000,000
8 PCX 8.15 1,340,000,000
9 RENN 7.97 2,890,000,000
10 THO 7.68 1,240,000,000
11 SFUN 7.46 1,370,000,000
12 WPRT 7.27 1,180,000,000
13 FL 6.29 3,190,000,000
14 HSP 6.24 7,540,000,000
15 RMBS 6.06 1,300,000,000
16 BGC 6.03 1,460,000,000
17 SNP 5.95 84,620,000,000
18 ARUN 5.91 1,850,000,000
19 MPEL 5.88 6,680,000,000
20 UMC 5.87 4,890,000,000
21 TQNT 5.80 1,350,000,000
22 YZC 5.60 13,550,000,000
23 MS 5.55 33,390,000,000
24 OPEN 5.49 1,510,000,000
25 NKE 5.48 42,040,000,000
26 CLF 5.40 10,930,000,000
27 FWLT 5.34 2,930,000,000
28 SLXP 5.31 1,770,000,000
29 RYAAY 5.29 7,810,000,000
30 FSL 5.25 2,720,000,000
31 CEO 5.17 83,490,000,000
32 GNW 5.08 3,450,000,000
33 DV 5.06 2,920,000,000
34 CHA 4.98 50,690,000,000
35 ANN 4.95 1,230,000,000
36 LPS 4.91 1,420,000,000
37 STD 4.88 55,580,000,000
38 TXT 4.88 4,560,000,000
39 VRA 4.86 1,210,000,000
40 GA 4.83 1,790,000,000
41 LII 4.82 1,670,000,000
42 ENS 4.80 1,130,000,000
43 CX 4.79 5,480,000,000
44 SWFT 4.72 1,180,000,000
45 LOW 4.68 25,820,000,000
46 WM 4.67 16,000,000,000
47 USG 4.63 1,020,000,000
48 GTI 4.63 2,220,000,000
49 TSL 4.57 1,140,000,000
50 DISH 4.49 9,890,000,000
——————————————–

No. Ticker % Change Market Cap
1 CAVM -12.02 1,300,000,000
2 TDW -11.04 2,710,000,000
3 ACOM -9.24 1,540,000,000
4 RRC -9.09 9,920,000,000
5 CDE -7.37 2,560,000,000
6 SA -6.63 1,210,000,000
7 BVN -6.07 11,790,000,000
8 MFN -6.01 1,280,000,000
9 KEG -6.01 2,010,000,000
10 RGLD -5.97 4,130,000,000
11 NGD -5.84 5,940,000,000
12 GTU -5.65 1,170,000,000
13 AUY -5.63 11,210,000,000
14 WAIR -5.25 1,040,000,000
15 MOS -5.17 32,440,000,000
16 SLW -5.16 13,760,000,000
17 HL -5.09 2,160,000,000
18 GOLD -4.86 9,560,000,000
19 CRR -4.82 3,330,000,000
20 NSU -4.78 1,270,000,000
21 HMY -4.75 5,600,000,000
22 EZPW -4.70 1,700,000,000
23 ANV -4.51 3,570,000,000
24 GFI -4.46 11,780,000,000
25 NBG -4.45 5,490,000,000
26 SSRI -4.35 2,240,000,000
27 WF -4.31 4,300,000,000
28 IAG -4.27 7,670,000,000
29 AG -4.22 2,370,000,000
30 HWD -4.16 1,270,000,000
31 AEM -4.16 11,120,000,000
32 EGO -4.15 10,700,000,000
33 KGC -4.13 19,760,000,000
34 HPQ -3.97 53,650,000,000
35 GG -3.92 41,630,000,000
36 NG -3.87 2,310,000,000
37 NEM -3.83 30,710,000,000
38 MR -3.78 2,770,000,000
39 RPXC -3.68 1,250,000,000
40 CRZO -3.58 1,090,000,000
41 FCFS -3.58 1,400,000,000
42 CPX -3.52 2,180,000,000
43 MAKO -3.49 1,450,000,000
44 GORO -3.47 1,230,000,000
45 AGRO -3.41 1,300,000,000
46 ADS -3.33 4,520,000,000
47 MNRO -3.31 1,200,000,000
48 ABX -3.30 48,960,000,000
49 CHMT -3.28 1,230,000,000
50 AUQ -3.27 1,970,000,000

Wake up EU ministers and get your house in order