Stocks And Precious Metals Charts - On A Tear Higher

Stocks were on a tear higher today, on the news that Team Trump, consisting of Mnuchin and Kudlow, are considering its response to the coronavirus. The two major contenders are Fed rate cuts and tax cuts.

Pence is resting up from his $250,000 a plate fundraising dinner in Florida and is planning to meet with the airlines later this week.

I guess this is the one percent rescue effort. I was kind of hoping to hear some news about public health emergency plans etc.

And so financial assets recovered, as we decided that we can't be concerned about any pandemics today. Markets and all that. Whatever displeases us must be a hoax, for we are perfect.

Gold rallied in the morning, and then took its lumps in the afternoon when the Merry Pranksters were calling the shots in the NY paper gold markets.

This is not going to be pretty, by any stretch of the imagination. I don't even want to think about it.

Have a pleasant evening.

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