Note we have been hoovering around the 1.618 area mentioned a week ago. Nothing is going on here and it is the worst I have seen it is a long time. A lot of noise around that funds are barely surviving and traders who in the past were racking up huge bonuses will be lucky if they get any this year.
Most have already taken holiday vacations starting last friday so I really don't expect anything to happen over the next 2-3 weeks when most are back.
Monday, December 20, 2010
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