• Corrida!

    If there were any shorts left alive after yesterday's massive short-covering an options-related orgy, well, it was hard to find them in New York. Spurred by the symbolism of the Indian central bank purchase of 200 tonnes from the IMF (a topic we covered in some detail in yesterday's comment) but less so by manifest dollar weakness (at least as regards yesterday's action), the bulls beat a hasty path filled with galloping noise, all the way to the $1096 figure (during the overnight hours). This i...