Twilight's Last Gleaming

If you think you are disappointed in this "reformer" the next one will
probably make you want to take the gas pipe.

Next up: Stocks to Buy for Armageddon and the New Triangular Trade

SP 500 and NDX December Future Daily Charts

"But, once again, I'll get on my soapbox and shout from the top of my lungs that buying U.S. Treasuries is a Ponzi scheme that will all come crashing down on you when the Fed removes their stimulus. Sure it won't be now, or in the next 6 months, but this Treasury Bubble will pop one day, and when it does, the mass exodus to the exit door will be so jammed, that everyone will get hurt."

Chuck Butler, Everbank

Gold Daily chart

Truer words were never spoken:

"One thing I am sure of is that as this situation plays out and as gold and silver rally higher, the reasons given by some as to why the precious metals should not be doing what they are doing, rising higher in price, will become increasingly strident, insistent, and at times unintentionally funny because they are so disconnected and inappropriate compared to reality." Jesse

Gold Daily and Silver Weekly Charts

This is what triggered the selloff in silver today, but the price was rather extended above trend when the news came out. The exchange gave some relief to the short interest.

CME Group to Raise Silver Margins by 30 Percent

NEW YORK, Nov 9 (Reuters) - CME Group said on Tuesday it will raise its silver futures trading margins by 30 percent to $6,500 an ounce from $5,000 an ounce effective Wednesday.

U.S. silver futures surged as much as 6 percent before retreating, with volume rising to an all-time high on Tuesday, boosted by extreme price volatility and possible short covering, traders said.

Also read Three's Company: Silver Margin Change by Jim Rickards

I do not see this as impairing the rally unless stocks undergo a sustained selloff. I would prefer to see a steadier, non-parabolic rise that slowly roasts the big short interest on a spit of their own construction.