Gold Daily and Silver Weekly Charts - Risk On, Gold and Silver Off

Gold rallied this morning on the risk trade, but as confidence crept back into the computer algos and stocks rallied gold gave up much of its gains, and silver slumped back towards the fifteen handle.

Those holders of March futures contracts after the option expiration are getting the usual gut check. It is never easy to hold any position short term in a market like this. And this is why I strongly recommend against the use of leverage, options, and oversized positions.

Things are unfolding as expected.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Risk On, Have No Fears

VIX down, dollar down, stocks up.

It was a good day for Wall Street and the sponsors of the paper chase.

APPL is right on this particular case with the US, and deserve popular support. The government is making a case for the development and general deployment of a 'backdoor' to all Apple phones sold all over the world, and not just the examination of one phone implicated in a tragic terror event.

That Bill Gates sided so heartily with the government speaks volumes about Microsoft and its Windows.

Have a pleasant evening.

But If Not...

"But if not, I will not bow, and God grant that we will never bow before the gods of evil."