03 May 2017

Stocks and Precious Metals Charts - FOMC Day, NFP on Friday

“Therefore I must say that, as I hope for mercy, I can have no other notion of all the other governments that I see or know, than that they are a conspiracy of the rich, who, on pretense of managing the public, only pursue their private ends, and devise all the ways and arts they can find out; first, that they may, without danger, preserve all that they have so ill acquired, and then that they may engage the poor to toil and labor for them at as low rates as possible, and oppress them as much as they please."

Thomas More, Utopia

Today was an FOMC decision day, and the Fed pretty much decided to do nothing. They did acknowledge that there is some slowing in the economy in the first quarter. Ya think? lol

But as usual, the quarter was dismissed by reason of bad statistical analysis and/or adverse weather.

Stocks held up into the close despite weakness all day. This *could* be the handoff of the rally from the pros to the schmoes. Let's see how the rest of the week goes.

Gold and silver were steadily knackered from the open in NY, and pushed down to the lows in very quiet trade into the close. The daddies of brides in India thank you for your service.

Today was the last of the queen's radiation treatments, and she is doing remarkably well. We are getting dinner out (meaning I go out and bring it home) to celebrate.

There will be the Non-Farm payrolls report on Friday.

Have a pleasant evening.