"Those who have knowledge, don't predict. Those who predict, don't have knowledge."
Lao Tzu
"The blunt accusation, the brutal tap upon the shoulder - what can one make of such a denouement? But the quick inference, the subtle trap, the clever forecast of coming events, the triumphant vindication of bold theories - are these not the pride and the justification of our life's work? At the present moment you thrill with the glamour of the situation and the anticipation of the hunt. Where would be that thrill if I had been as definite as a timetable?”
Arthur Conan Doyle, Sherlock Holmes
As a reminder we will have the end of the second quarter stock market option expiration this Friday.
Shenanigans are anticipated.
And shenanigans we had, as stocks came in slumping in fairly hard from the overnight into this morning.
But surprise, the major indices managed to take back the losses and finish with some outsized gains into the close.
Some of the big banking houses, somewhat preemptively I suspect, are ascribing this latest overdone rally to retail investors day trading on RobinHood.
Given that retail is about 3% of the volume in stocks these days seems to be a bit much.
But whenever the wiseguys start pointing the finger like this, one braces for the thrilling finish.
Gold and silver took a hit fairly hard. And purposefully I also suspect.
June is a big metals month, and shaking out the weak hands is the order of the day.
I picked up a long position in a battered miner early this morning, and let it go with a nice profit in the afternoon.
I don't like to do this daytrading bit, but when it happens it happens.
Donny is done. Stick a fork in him.
And the corrupt money may be preparing to exit later this year, flush with big bucks all the way, stage right.
Stay flexible, and don't feed the sharks.
Especially with yourselves.
Have a pleasant evening.
