By Chuck Butler, editor
www.worldcurrencywatch.com

If the risk takers came out of the walls yesterday, then that must mean the High Yielders of Australia, New Zealand, and Brazil are rebounding. But how much of this can someone take? Up, down, up, down, back and forth, like watching a tennis match. We need direction!

Why can't the markets make up their collective minds? It's like they're torn between two lovers. On the one hand, the market believes that the U.S. will rebound from all this and be stronger for if it. (It’s the old “what doesn't kill you makes you stronger” argument.) 

Then on the other hand, we just keep building up debt. And soon the Fed will begin their quantitative easing, which means more and more debt and dollars, and that just spells bad times for the dollar.

Meanwhile, the euro has inched up one tick at a time since I came in and turned on the screens this morning, so we've got that going for us. We've seen these mini-rallies get wiped out in one day though recently.

So, I'm just looking for some direction, and hoping the market participants and traders finally get over their first lover, and realize the only lover for them is the second one.

And finally, now that risk takers back (for today at least) gold has pushed higher overnight, adding US$11 bringing its price to US$828.90.

Gold is a store of wealth folks. Look how well gold has held its value, while the dollar has continued to lose its purchasing power for years! Something to think about as we head into the weekend...