Stocks and Precious Metals Charts - Return to Normality - Comex Option Expiration

Stocks slumped hard overnight, and in the morning trade, as Russia conducted a large scale incursion into the Ukraine.

Gold and silver and the dollar soared.

But about midday the markets decided that they were tired of the war, and wanted to move on.

So stocks did a u-turn and rallied hard into the close to finish green.

War, what is it good for? Apparently the US markets.

Gold and silver fell back from their lofty highs and plummeted back into the red.

One day after the Comex option expiration, with the punters holding a lot of new futures contracts.

And they received a fairly substantial 'wash and rinse.'

They often call this 'buy the rumor and sell the news.'

Or in this case, I suppose it was 'sell the rumor and buy the news.'

In the short term paper markets in general are just a game of liars poker.

And our financial system has some of the biggest and most shameless liars in the world.

Let's see how we slouch into the weekend.

Have a pleasant evening.

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