Many are expecting Bernanke to save the world and engage an another massive 'kick the can down the road" exercise tomorrow, i.e, QE3.
As such, QE3 may already be built-into prices. If Mr. Fisher is right, and Bernanke is not the tooth fairy, the market swill be disappointed, and prices will reflect this. If QE3 happens, then gold will resume its parabolic move. It's a perfect setup.
Here are straddles on popular ETFs, to profit either way, up or down. Computed with StraddlesCalc.
Given the volatility, massive moves are possible, and so are profits, as were our past straddles last month.
This is not advice. Options are dangerous and may cause 10% loss. Please do your own due diligence,.