Gold Daily and Silver Weekly Charts - The Day Before Non-Farm Payrolls, What Else?

Max is attending his first Comedian's Convention. He's very excited to see all the famous comics sitting at tables all around him.

Jay Leno gets up and says "Number 64." Everyone in the hall laughs uproariously, except Max. He turns to an older comedian and says, "What's everybody laughing about?"

"These are all professional comedians," says the experienced comedian. "They don't need to hear jokes. They all know the jokes so well, they've given every joke a number. They just get up and say the number. It saves time."

Gilbert Gottfried gets up and says, "Number 2," and again, everyone in the room laughs uproariously.

So Max stands up and he says, "Number 36."  Nobody laughs.

Max is so embarrassed, he sits back down. Then he hears a voice mutter near the end of his table, "Some people just don't know how to tell a joke."

I think today in the markets was a Number 36: an old, familiar joke, and not presented well.

 

Non-Farm Payrolls tomorrow.

Have a pleasant evening.

 

SP 500 and NDX Futures Daily Charts - First of the Year Roller Coaster, Say What?

Stocks were on a tear higher today despite the worse than expected unemployment claims.

The pundits were talking about 'oil stabilizing' as given a boost to stocks, and the foolishness of the first few days of the year correction, but in reality it was the reassuring words from the Fed head last night that the money spigots would remain open, never fear.

Tomorrow is a Non-Farm Payrolls report. The consensus of economists says 240,000 jobs added for the big headline. I am sure the trade will take its cue from this, and it will be interesting to see how they will interpret a better or worse than expected number.

It is pretty pathetic really, watching adults have these histrionic discussions on Bubblevision.   The financiers will never see it coming, again. 

Have a pleasant evening.

 

 

 

Secrets of the Manor House: From the Edwardian To the Modern

Changes that led to the decline of the traditional British aristocracy and the Empire, which had come to their zenith with globalization and the great fortunes which had been created in England and America with the Industrial Revolution.

 

Many of the social phenomena that we see today could be viewed as an attempt to roll back the changes of the 20th century and the rise of the 'common man.' 

 



British Conservative Party Poster c.1909



Gold Daily and Silver Weekly Charts - Gold Capped at the 100 DMA (Again)

Gold took a pause today, with silver holding its level a bit better.

So far the 100 DMA is holding gold down firmly in place, as the 130 day moving average is holding up the SP 500.  That 100 DMA is a mark watched by many traders, so this may just be a technical reaction to a short term overbought market.

 

The silver strength was a bit reassuring, but the price moves in the precious metals through Monday should tell us the real story.

We paid $1.73 for gasoline today at a Costco. That seems a bit unnatural, but enjoy it while you can. 

I think it does help to demonstrate how artificial the $4.00+ prices had been.

I think long oil might be a good play sometime this year. I would imagine it will show up in time for the Summer driving season, but let's wait for the market to tell us.

Have a pleasant evening.