Us non-tradestation users really appreciate this Matt!

Thanks

In case you missed it - Cyprus is the latest European country to get a bail-out but this one comes with a major twist. And it’s a twist that could have major repercussions through out Europe and the markets. As part of the Cyprus bail-out terms, people with money in banks will have a portion confiscated. If you have under 100,000 euro deposited they will confiscate 6.75%. If you have over 100,000 euro you will have 9.9% confiscated. In other words, if you have your life savings of 150,000 euro on deposit in a bank in Cyprus you will immediately have 14,850 euro confiscated. As Forbes Magazine reports just a few days ago the finance minister of Cyprus stated, “there really couldn’t be a more stupid idea” He went on to say” this doesn’t only apply in the case of Cyprus but for the world over and the euro zone.” Yet here we are a few days later – and presto – confiscation of bank deposits. While those on the political right will be outraged – and those on the political left will say what’s your point - the big question is how will depositors react in the rest of the Eurozone – especially in those countries like Spain with their own banking problems. I’ll keep a close eye this week and let the market dictate any moves but it is not a stretch to see this as a big plus for gold, which has been acting more positively the last week.

http://elite.finviz.com/publish/010813/HLFc0i3l1502.png