So the big event this week is the FOMC on June 20th. Goldman has been calling for QE3 to be announced this day for some time now. And being how closely tied they are to the head of the FRBNY, I wouldn't be shocked to find out that they had some insider info...
I personally don't see it happening, not yet anyway. What I do expect is some form of Operation Twist extension, which will be followed by QE 3 later a few months down the line.
Anything short of a QE3 announcement on June 20th I would expect the market to sell off.
If QE3 is announced, say hello to Silver 35 and Gold 1800.
Zerohedge just posted an article regarding the June 20th FOMC..
p.s. i just joined the 3000th post club.. Am I going in the HSM hall of fame? I hear everyone who has gone 3000 are inducted..