05 June 2017

Stocks and Precious Metals Charts - The Emperor Wears Nada

“Every organization should tolerate rebels who tell the emperor he has no clothes.”

Colin Powell

But there are not always those who are willing to place principle above power and self-interest to speak such truth to power, right Colin?

Great events abroad, but here at home just another blissfully uneventful day in the markets under the Pax Americana.

However, I cannot help but feel that there is a 'tension' on the tape, and that the largely unchanged nature of the box scores for the day are masking what may turn out to the an imminent move.

Stocks seem overpriced, and the metals, especially gold, seem to be undervalued and ill-supplied.

But who can argue with such success?

And if one did, who would listen?

Have a pleasant evening.