26 July 2013

Gold Daily and Silver Weekly Charts - Post Expiration Gut Check As Expected

We had the expected post option-expiration gut check in the metals, which rallied back into the close.

These jokers are about as subtle as our little girls when they play Monopoly,  and make up their own rules as they go along.

Interestingly enough it appears that JPM is exploring ways to exit the commodities business.  This could be fallout from their recent Enron like energy experience. 

Maybe this is more insulating themselves from the vagaries of the market sort of thing. 

There is intraday commentary about next week's packed macro-economic calendar here.

The reports include an FOMC decision, advance GDP for the second quarter, and a Non-Farm Payrolls Report.

It is funny that President Obama chose this week to kick off his 'don't blame me for the economy' road trip.

See you Sunday evening.