Here's some stuff to read on this wonderful panty-piddling day:
Bonddad - R2K continues to underperform. Pay no attention to those TA clowns who say it's predictive of an imminent collapse. Bonddad tells you what it really means:
a declining risk tolerance on the part of tradersThat is really all it is. Now sure, sometimes declining risk tolerance happens right before a market collapse. But if that were the case today, you'd see a fundamental reason for the collapse in the economic indicators, and we aren't seeing that. But good luck convincing your goldbug TA buddy to follow economic indicators: he'd have to learn some economics first, and that'd mean admitting that gold isn't money.
Gavyn Davies - no hard landing yet in China. China seems to have run into difficulty finding a cliff to jump off of.
FT beyond brics - Chinese banks see surge in bad loans in first half. Which, of course, already happened in the first half. Good luck trading that information, Mr. "I don't own a time machine".
Mineweb - GS' Jeff Currie is still calling for a gold collapse. Dude, way to stick to your guns! But hey, you might want to tell your gold stock analysts so they can revise all their high price targets for gold miners like BTG.
Red Orbit - now we know what causes peanut allergy. The answer will shock you!