Stocks And Precious Metals Charts - Who Could Have Seen It Coming? - Comex Gold Option Expiration Tomorrow

The Dollar jumped to take the 114 handle today, off the weakness in the Euro, Yen, Pound et al. 

This record Dollar strength poses serious earnings risks for dollar-based companies with international exposure.

Gold was hammered down to a multi-year low, along with silver.

Tomorrow is a fairly important Comex option expiration for gold, for the October contract.  What a surprise.

The physical inventories in Hong Kong Comex warehouses remained very thin.   

Bonds are getting clocked by the rising interest rates, although the shorter-term bills can be held to maturity.

Gold from the ETF selling may be some assistance, in addition to the usual Bank shenanigans.

Stocks were lower once again, with the SP flirting with the important CrashTrak prior low.

I don't think we have seen capitulation in the equity markets yet.

Or from the gold and silver cartels in NY and London either.

What is the old market saying, Sell Rosh Hashanah and buy Yom Kippur.

But the high ground seems to be a reasonably good position for waiting, as indicated many times here previously. 

Or perhaps even more appropriate for this year,  Sell in May and go away.

The atonement for the Wall Street financial assets bubble compels the Fed to continue to feed our children's future to the Moloch of the money men.

But in this as always, remember what is truly important.

"The most important problem in the world today is your soul, for that is what the struggle is about." - Fulton J. Sheen

Have a pleasant evening.

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More By This Author:

Stocks And Precious Metals Charts: Gold And Silver Hammered
Stocks And Precious Metals Charts: Precious Metals Option Expiration Next Week
Stocks And Precious Metals Charts: Dollar Rocketed Higher

Disclaimer: These are personal observations about the economy and the markets. In providing information, I hope this allows you to make your own decisions in an informed manner, even if it is from ...

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