NEWS

As I mentioned, the news will be hot and heavy today causing a lot of volatility and anything EU related needs to be taken with a grain of salt, such as this last rally intraday.

I've had a lot of questions as to what has been driving this and I found the first of many answers. There was a rumor that the Chinese bailing out the EU about 12 hours ago!


This from the AP 12 HOURS AGO!


"China to take part in eurozone bailout fund"
Actually 13 hours ago.


3 hours later, Reuters refutes this very same rumor.
 China has backed efforts to tackle the euro zone's debt crisis but there is currently nothing concrete concerning support for a special purpose investment vehicle (SPIV) of the euro zone's bailout fund, a Chinese diplomat said on Wednesday.




More Sewing Circle Rumors on the way....