Don't believe the hype!

My instincts we're correct and "Mean Irene" wasn't so mean after all (I don't mean to minimize the property damage and loss of life Irene caused further south. I'm referring only to NYC and my thoughts go out to anyone affected by Irene). I think the markets will react well to the news, but who knows what gem will come out of Europe to give the bears some encouragement. Futures are up seven tenths in Asia but as we well know, in 2011, the futures, as a predictor of the next days action, mean bupkis. Gold's down slightly at $1824 per troy ounce.