The decline in the equity markets was very real today, although there was a distinct lack of tangible fear amongst the wiseguys. Although the professional cheerleaders and spokesmodels were uncharacteristically at a loss for words and rationalizations, being suitably confused by the selling— homina homina homina…
We will likely see some bouncing around since we are still in the monetary la la land. But the handwriting is clearly on the wall.
I mean I even labeled these ‘blow off tops’ pretty much in near real time. I added a ‘ding ding ding’ to the big cap tech chart in case you missed the hint. Sometimes they do ring a bell, right?
Gold was only up slightly and silver was flat. The Dollar gained in a ‘flight to safety’.
Why didn’t gold and silver gain more? Well, silver is really not a safe haven since it has a large industrial component, remember? It will ‘follow’ gold in troubled times.
And as for gold, tomorrow is an option expiration for October in the Comex casino, remember that?
There may be some bright moments ahead. There always are.
But, and I get a little tired of saying it, things are probably going to get worse, and maybe a lot worse if we continue to be stiff-necked and refuse to reform. History does not hold out much hope.
I just wish there were not so many innocents in the blast radius of this madness.
Have a pleasant evening.
