Stocks And Precious Metals Charts - Worst Week For Stocks Since 2008 - Davos Man Springs Into Action

A healthy market correction this week, as it was called by some pundits, thankful that the lack of 'market collars' and 'circuit breakers' allowed buyers and sellers to find each other without interference. It's almost romantic sounding.

This was the worst week for stocks since 2008, with the SP 500 and Nasdaq down a little over ten percent.

But it did end on a kind of an upbeat note, as the stock futures recovered today's losses and managed to go into the weekend in the green.

Several factors contributed to this.

First and foremost, the odds of a rate cut in March jumped to 96.3% today from 8.9% a week ago, we hear.

Trumpolini appointed Mike Pence as his 'coronavirus czar.'

Mike promptly and decisively went into action, placing a gag order over all of the Federal health officials, requiring that everything that they say be pre-approved by him. Save the narrative, and manage it, is the first principle of this administration.

Mike then promptly took off for Florida for a fact-finding mission, meeting with the public at a #250,000 a plate fundraising dinner.

I suppose next week he can start sorting out why the CDC's coronavirus test kits are in such short supply for the states and don't work well anyway.

The team of Kudlow and Mnuchin managed to rally the banks to smack the crap out of gold and silver, running the stops and triggering margin calls from the recently increased margin requirements on the Comex. Since the Banks were struggling with an oversized short position it certainly helped out the financial system while dampening the enthusiasm for hard assets

No slackers here, there is a two-prong effort across the established powers to manage and control the narrative, while ensuring boatloads of money continue to reach 'the right kinds of people.'

The spice must flow.

And in a bipartisan celebration of better news, Joe Biden is expected to crush the opposition (Bernie) in South Carolina this weekend, an all-important victory for the forces of the status quo.

In all seriousness, let's remember those who are suffering with this virus around the world, struggling to go about their business while trying to protect their livelihoods and families.

Now is a good time to prepare, if you have not already done so, and to begin engaging in those simple procedures that may help us weather this.

Have a pleasant weekend.

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