20 June 2016

Gold Daily and Silver Weekly Charts - Two for Flinching


The 'tell' today was that silver never really faltered, even though gold was hit early and a bit hard, down about 30 at one point from the Friday close at around 1299.

The net longs on the Comex in gold are at record highs, so a few gut checks might be in order to shake out the weak hands.

Let's see what Janet has to say to the Senate in her annual testimony this week.

And of course, there is the Brexit vote on Thursday.

Have a pleasant evening.




SP 500 and NDX Futures Daily Charts - Risk On! - And Then Not So Much


Stocks were rallying this morning on optimism that Brexit would fail.

But it was just a gimmicky way of handing that pessimistic crew, the bears, a gut check on their short holdings.

Janet speaks this week to the Senate, and the British people will vote on Thursday the 23rd.

I suspect these two events will be the greatest influences on the short term trades.

Have a pleasant evening.








JR Smith's Tribute to His Parents


JR Smith's pro basketball career certainly has had its ups and downs, and some serious low points.  He was written off by several teams in the past as a player.  When he was traded to the Cavaliers, he was 'thrown in' as a freebie.

Real champions bring out the best in other people, their co-workers and teammates, in addition to doing well themselves.  No one wins unless everyone wins.

This was a nice Father's Day Present.