by Andrew Hoffman
It’s Monday morning, and a LOT has occurred since Friday’s impromptu post-NFP audioblog. Starting with Friday afternoon’s COT, or “Commitment of Traders” report; which, in demonstrating further “commercial” short covering, validated what I said last week – of how the Fed-orchestrated Precious Metals “correction”; based on a blatant lie regarding potential policy tightening (despite not a shred of economic evidence suggesting such an event was likely); solely to help said “commercials” cover their all-time high short position; is OVER. Not that the Cartel is “letting up” in the slightest – as evidenced by yesterday’s 146th “Sunday Night Sentiment” raid of the past 152 weeks (LOL, just as gold was about to cross this Spring’s primary “line in the sand” at $1,250/oz); and 652nd “2:15 AM” EST attack of the past 747 trading days. And this, as the only significant weekend news was a plunge in the British Pound, upon news that the “leave” faction leads in the latest BrExit polls.