This can’t be good

“Fannie Mae has already said it will not file its third-quarter financial results report [on time] because its independent auditor has refused to approve it,” the Associated Press reports. “And the company says it’s not requesting a five-day extension allowed under SEC rules because it can’t meet that deadline, either.”

Normally, I’d say that buying gold is a good idea, but I’d hold off at the moment. This is one of those times when my contrarian instincts tells me that because everyone is running one way, a change in direction is nigh.