SP 500 and NDX Futures Daily Charts - Banks and Criminal Culture and the Intersection Thereof

Stocks were weak today despite some attempts to rally them up.

The overhang of three major central bank meetings this week and the US Non-Farms Payroll had the punters sitting on the sidelines.

OPEC failed to agree on production cuts, so the price of oil slumped a bit today as well.

Two Ex-execs of Valeant Pharmaceuticals are being probed for fraud. I believe the stock has lost something like 80+% of its value since Bill Ackman pledged his fund's money to it.

Oh well, tomorrow is another day.

Have a pleasant evening.

Just Charts Into the Weekend - FOMC and Non-Farm Payrolls Next Week

I consider today's GDP number a particularly generous pre-election pump for Hillary.

The New York Fed's 4Q estimated is 1.4%.

Next week is the FOMC rate decision and on Friday the October Non-Farm Payrolls.

The delivery reports were quiet, with Macquare disgorging another chunk of their gold long position.

Someone took another 450,000+ ounces of gold out of Brink's Hong Kong.

Have a pleasant weekend.

David Malone On Money Laundering, Globalisation, The Media

I have some business to which I must attend, so I will be giving myself the day off.  I'll be back tomorrow.

In the meanwhile, here is a short video on a range of interesting topics from David Malone.  As you may know, David is an acquaintance and a friend of Le Cafe, and the author of the blog GolemXIV.




and as an added attraction, David Malone on the TTIP and the Death of Democracy

Gold Daily and Silver Weekly Charts - Capped Again at 1270 - Election Speculation

Gold and silver managed to move higher despite the stronger dollar, with gold showing a little more strength.

With the VIX also climbing, this looked like a flight to safety of some modest proportion.

Gold is obviously caught in a short term trend. Silver as well, although it is not as easy to see this on the weekly chart.

Over 800,000 ounces of gold have been taken off the Brink's accounts in Hong Kong over the past two days. Perhaps not significant in the bigger picture of things. But still worth noting if such a trend to take physical out of the 'Comex warehouses' there and not replace it.

Quite a few traders are busying themselves by trying to figure out with way assets will move if Trump or Hillary win the election.

I am giving it some thought myself, but for now the only people making money in doing this are those who sell their opinions in one way or another.

Right now I can argue it both ways. And personally I find both candidates to be so distasteful that it is hard to even imagine that they could become the 'leader of the free world.'

Regardless, I think it might be wise to hang on to your wallets, unless you are among the self-chosen elite who seem to have shanghaied the American political system.

Have a pleasant evening.