Stocks and Precious Metals Charts - The Worst Is Likely Yet To Come - Non-Farm Payrolls on Friday

Stocks gave up some of their gains from yesterday, or as the spoke models quaintly and charmingly put it, 'Yesterday there was optimism about Ukraine: today there was not.'

Or as someone who is not afraid to say it might have put it, 'Yesterday was a very calculated and determined short squeeze. Today they took profits let some of the air out of the bubble.'

Bully needs to set a new high. A failure to do so with put the risk imbalance higher by an exponential level.

Gold and silver rebounded sharply today, because of the artificial magnitude of the selloff in observance of the April contracts option expiration.

The dollar continues its slide for much the same reason. There are no markets more manipulated than the currency and interest rate [LIBOR] markets. It is the dark heart of the gangs of banking.

There will be a Non-Farm Payrolls Report on Friday. This has often been an occasion for more shenanigans, operating behind a thin veneer of 'fundamentals.'

Have a pleasant evening.

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