Bounce continues

Yesterday I thought that it would, I even gave a target. However this comes on the heels of a Hugo Chavez peace proposal for Libya, so traders cashed in on gold and oil and bid up equities, this weekend is likely going to tell us whether Nato intends to initiate a no-fly zone. As I said, the Arabs have sensitivities toward American bombs killing other Arabs, even those they don't like, but the deal will likely not be accepted by the tribal clans in Libya. This sets up huge tension between the Arab League and NATO.

So bounce we will, but this could be the start of the ugliness I theorized about in Libya with NATO forces bombing Gadhafi's infrastructure. And why have 2000 marines aboard the amphibious assault ship-1400 more are being transferred to compliment the 400 strong attachment. Boots on the ground?

In any case, our ideas about gold, intended or not are working out this morning. I've got some research to do on this, but it'll be interesting to see whether the market can hold gains going into the weekend, about the same time the strike group will be of the Libyan coast.