Wax on, wax off market

Published 12 May, 2011, 05:38, CEST+1 | By the trader

After the bond auction, market is on risk on mood. This feels really liek we are back to wax on, wax off market. Gold above 1500, silver bounced off 32 level, going into plus territory soon. Aud/JPY gaining some, but overly super strong. Teflon market still in no trend. Only disturbing to this rally is Goldman Sachs performance today…..