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Stocks dumped today, but found a footing and came back in the light last hour of trading.

The economic news this morning 'sucked out loud', as the youngsters (those under 40) might say. 

Donnie says he has 'big news' for us tomorrow night at 9 PM EST. Since I am not clairvoyant, and am not able to see changes to the personal stock portfolios of some of our government luminaries, I have no idea what this is, and how it will affect the markets.

Odds are it will be a big nothing, or a big sounding something that is pure wind. 

Gold and silver wobbled around as did the Dollar. The silver market is interesting of late. I think we have been seeing someone with deep pockets sitting on silver with a limit buy that keeps absorbing the paper selling on the Comex and whack-a-mole selling on the London LBMA.

The other day I read that Samsung has a new lithium battery technology that utilizes silver that solves a lot of lithium-ion problems, and its going into mass production next year. This is correlated to the Electric Vehicle market, and the buildouts of solar farms for AI centers.

Since I expect the AI tech bubble to go the way of the 2001 tech bubble, this might not be as long term reassuring as I might hope. But it will be nice to see the silver racket with a hole blown through it.

A similar situation has existed for some time now with gold, as its bull rally is underpinned by steady and strong physical buying by the non-Western central banks. 

VIX fell again.

Bitcoin bounced back a little, remaining in the recent trading range it has channeled. It seems a bit dicey, but the major players don't want to kill their golden goose just yet.

Corrections and rallies come and go. But the risk markets are primed for a 10-20% correction. I think it will take an 'event' to crash through the support levels patrolled by Secretary Bessent and his boy at the NY Fed and ESF.  

It might not even be a US-centric event. A crash in the Japan carry trade might get the ball rolling for example. Or some unfortunate series of event in the Mideast as another.

Need little, want less, love more. For those who abide in God abide in love, and love in them.

Have a pleasant evening. 
 

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