As I wrote in today's extremely revealing article, "A day of manipulative infamy - and failure," the entire convoy attack smelled fishy from the first. The "market action" was eerily similar to the whodunit MH-17 disaster, only this time it never happened in the first place.
The smoke has cleared, and still rates are at new lows (aside from Friday's spike lows) since early 2013, when the whole tapering propaganda scheme commenced. And with each passing day, the fundamental and technical strength under PMs grows stronger.
All I can say is this - beware of the fall, ye paper shorters.
Andrew C. Hoffman, CFA
Miles Franklin Ltd.