The bailout of Greece is today's flavor of day. A few months from now, it will be some other unspecified uncertainty.
While the gadgets supporting the trade change, the cycle remains the same.
(1) Accumulation/distribution (A/D). This is often done under a false pretense supported by headline spin.
(2) Mark up/down. Once the money has been positioned, the false pretense established during (A/D) is discarded by subtle headline, featured guest, and technical changes. All these changes support positioned money.
(3) Distribution/Accumulation. Bears and bulls make money. Pigs get slaughtered. When the public starts buying or selling in force, it's time to take profits during the distribution/accumulation phase.
I view financial headlines as entertainment embedded with hints of the "truth". Bull or bear, follow the money or you will be slaughtered with the pigs.
Gold London P.M. Fixed and the Commercial Traders COT Futures and Options Gold Diffusion Index (DI):
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