Stocks And Precious Metals Charts - Another Option Expiration On The Comex, Indeed

Today was an option expiration for gold on the Comex. Couldn't you tell?

The explanation was that the Dollar's strength had become too much to ignore, and 'gold had become a crowded trade.'

I suspect that with this kind of smackdown in the futures markets that the gold trade is quite a bit less crowded. 

And that really was the point of this— a good, old fashioned wash and rinse keying off the option expiration.

Stocks had another ranging day, and while they managed to finish in the green it was not an impressive performance by any means.

The economic numbers are not impressive and more indicative of a looming recession. I expect the denial of this to be quite strong, and then strident until it comes upon us. And then they will look at each other and say, 'who could have known?'

Have a pleasant evening.

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