Gold and silver were on an absolute tear higher today, and went out on the highs.

I wish some of my old friends like Ted Butler and Jim Sinclair were alive to see this. 

The rally we have been seeing in both precious metals is truly impressive, but it's making this old cross-market tape reader a little edgy.

There will be a futures contract option expiration for the precious metals on the Comex this Thursday, the 25^th.It is for the October contracts which are more significant for gold rather than silver.As you know the biggest contract month of the year is December. 

If stocks were not rallying right along with the metals I would be even more concerned that the financiers were circling the wagons.  It looks like something it broken behind the scenes, or somebody is going to get whacked.

Yeah, the Dollar is sliding and the yield curve is acting a little squirrelly, like it sees trouble coming but it doesn't know when. 

The economic indicators are sucking out loud now, and it almost looks like stagflation on the horizon.

VIX is still sleep-walking, but that's just another sign of mispricing of risk.

Bitcoin continued its slide today which was also a bit odd, since it usually correlates with the NDX. 

I am about as sure as one can be about a long odds event, but this market is heading for a really stiff correction, maybe after a little more frothing at the top.It's only a matter of time.

Have a pleasant evening. 

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