Moyers: The top Secret Trade Deal You Need To Know About

Gold Daily and Silver Weekly Charts - All Saints

"Man has places in his heart which do not yet have life, and into them enters suffering, in order that they may be born...There is only one great sadness in life, at the very last, not to be a saint."

Léon Bloy, The Woman Who Was Poor

There was a fairly blatant hit on the metals for the first day of November.

There was a significant adjustment of gold bullion out of the deliverable category and into eligible storage, in the JPM warehouse of course. I shall post something about that late tonight.

Otherwise it was the same old, same old.  I used this latest smack down to backfill positions I had released on that last stab higher in price.   Now we will have to wait and see.

Can Joan's dad let me know how she is doing?  I remember her daily.

Have a pleasant weekend.

SP 500 and NDX Futures Daily Charts

Stocks had a drift upwards today.

The bulls smell the end of year now that it is November.

Bloomberg TV was touting industrials as the way to play this into year end, despite a big gain for the year already.

I doubt we will see any substantial QE taper until well into next years, but it is a nice theme to play against the short term 'wash and rinse' that is so popular amongst traders.

I do not now see any significant correction until year end UNLESS there is some 'event' that provokes a sell-off. If there is such an event the market has a thin underpinning and may get some downside traction relative to the size and significance of any event.

But that is a long shot bet.

Have a pleasant weekend.