24 November 2015

Gold Daily and Silver Weekly Charts - Quiet Option Expiration

Gold and silver both caught a bid this morning on a flight to safety after the key US ally Turkey shot down a Russian jet allegedly infringing on their border with Syria for a matter of less than seventeen seconds.

Russia disputes this as one might imagine.  They claim that the jet was one mile within the Syrian border.

Turkmen on the ground then shot the defenseless pilots as they descended by parachute.  And put a bow on it by shooting down a rescue helicopter that came searching for them.

Shooting a parachuting air crew member from a distressed aircraft is a violation of Article 42 of the Geneva Convention,  It is abhorred by professional military organizations as a despicable and dishonorable act.  And it is a war crime.

No worries.  Nothing to see here.  Move along.

Nothing much happened in The Bucket Shop yesterday. There were no deliveries, and only some silver leaked out of the warehouses.

Tomorrow the US markets will be open, but 'unless something happens' the markets will hit their objective by 1 PM, and the adults will leave the algos in the capable hands of junior traders.

Let's see if gold and silver get any gut checks in advance of the December contract after today's option expiration.

Here is a modest proposal.

All wars not in direct defense of US soil should be fully funded up front by a 'no exemptions' alternative minimum surtax on private incomes over one million dollars, corporate incomes over one billion, and a one-tenth of one percent tax on all Wall Street transactions, with no exceptions for The Banks or other pseudo 'market makers.'

Everyone has to do their part. The average poor Americans do most of the actual fighting and dying. Those who make the most money off these endless wars should be obliged to pay for them up front.

Have a pleasant evening.