Bernanke will be speaking shortly in Boston. That may help to prod these thin markets.
The Fed minutes moved everything quite strongly, by introducing roughly nothing new.
Gold and silver popped for a while today, but then were beaten back into the close. I thought it was cute that during the day a trading pundit was describing what a great play it would be to short gold on the Comex futures market, shortly before gold went on a tear from the Fed minutes.
Futures on the Comex are gambling, not investing. And that goes double for options.
The market structure, including the price of borrowing, is rather bullishly set. If we get a real breakout they may be carrying some of the small specs out on stretchers. But that is a big 'if.' Taking out the 50 DMA would be a nice change of pace.
Have a pleasant evening.
