SP 500 and NDX Futures Daily Charts - Quiet Trade On Options Expiration - Shamelessness

Today's stock market action was relatively quiet for an option expiration ahead of a three day weekend.

The economic news this morning was better than expected.

From the oligarchy is audacious department, the BP crisis manager was fined by the SEC for front running the Gulf Oil spill, selling all his family stock holding before the extent of the disaster was revealed.

The US markets will be closed tomorrow for Good Friday.

Have a pleasant weekend. See you Sunday evening.

 

Gold Daily and Silver Weekly Charts - Hubris Incorporated

“I am telling you if there is a God, when I get to heaven I’m not stopping to be interviewed.  I am heading straight in. I have earned my place in heaven. It’s not even close.”

Michael Bloomberg, Billionaire Financier and Master of the Universe, I Have Earned My Place In Heaven

Ah, the rich miscalculating their fit through the eye of a needle.  Its an old, old story.  Memento mori.

I am sure he is not intending this seriously, and we ought not to take it as such.  As we should with most of the gauche things that he and his fellow financial sharpers and masters of the universe say.

Speaking of dull financial people miscalculating their place in the cosmos, this looks like it is going to be a dull week for the precious metals, except for the major bear raid yesterday.

Nothing much happened in the Comex warehouses yesterday. The number of ounces claimed in the April delivery continued on, reaching a total of 461,400 ounces for the month.  It will be interesting to see if anyone decides to actually do anything with them that will show up in the warehouse reports, or just continue to pass their warrants around like hot potatoes.

The Comex is becoming increasingly irrelevant to the world markets, and a bit of an anachronism in the current influence it still has over price.

Hubris.  It means that they never see it coming. That is what makes the reckoning so often spectacular.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Quiet Holiday Week, Before the Storms

VIX is back down to more complacent levels.

This is a holiday shortened week, with Friday trading closed for the Easter holiday.

Let's see if the traders can carry this rally into a three day weekend with the Ukraine bubbling along. I suspect that some squaring up may be in the cards.

Have a pleasant evening.

 

Gold Daily and Silver Weekly Charts - From Sea to Shining Sea

"Plunderers of the world, when nothing remains on the lands to which they have laid waste by wanton thievery, they search out across the seas. The wealth of another region excites their greed; and if it is weak, their lust for power.

Nothing from the rising to the setting of the sun is enough for them. Among all others only they are compelled to attack the poor as well as the rich. Robbery, rape, and slaughter they falsely call empire; and where they create a desolate wasteland, they call it peace."

Tacitus, Agricola

Today was an absolute classic.

From one market to the other, from one lie to the next, they seem to have no fear, and certainly no shame.

Have a pleasant evening.