Dan Norcini reminds us all that today is merely the panicked shorts putting a lid on gold and the "gang" giving away dam near everything form soybeans to copper today to keep the game going with more spin and band aids. When the news is getting so bad that even apes are starting to worry about whether the zoo budget can afford their next banana, the boys sell bananas cheap at their peril.

Also don’t forget that waiting in the wings for these price setbacks are sovereign wealth funds with massive amounts of dollars to get rid of as well as even here in the States, entities such as Calpers (California Public Employees Retirement System) which was reported to have been given Board approval to invest $7.2 billion in commodities by 2010. To give you an indication of how much of an increase this is, their current allotment is reported to be $500 million. The amount of money sitting on the sidelines waiting to come into the commodity sector is simply mind-boggling!"

 Here's Dan:

"By the way, once some of these markets got wind of that Calper story in particular, specs bid up prices which brought in the schizophrenic hedgies who are now bailing out. The SWF’s (Sovereign Wealth Funds) and the big pension funds like Calpers are not as stupid as the hedge fund managers. They wait for setbacks in price to buy and do not trip and salivate all over themselves chasing markets higher like the hedge fund geeks and their black box algorithms who are perhaps the clumsiest, most inept traders when it comes to execution that the financial world has ever witnessed."

We wait for Monday, or even until the next rate cut for the next water boarding of the shorts and the fixers and their out of control black boxes.

As for all the noise here...it is merely the cornered looking for a way out of their shorts. Same old, same old.....but that boulder at the edge of the cliff is looking more unpredictable every day.