Stocks managed to rally back today after the Non-Farm Payrolls decline of Friday.

Smells like a wash and rinse, but the timing is not yet clear.

Gold broke out sharply, fueled by signs and rumors of a short squeeze in London.

Silver advanced but was pressed back into the close for only a modest gain.

VIX declined.  

Mispricing risk and lying about it is one of the great talents of our politicians and financiers.

Have a pleasant evening.

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