evening wrap (asking for a friend)

market vibes

November 18 …) 

Stocks had an unimpressive bounce today. Simple Arithmetic implies there’s still about 20K lots of trapped money above 21,000. Not even a margin call yet. But there was a serious full day of liquidation on Friday and those shares are on someone’s P n L. Will they keep them if stocks go lower?  

Bonds are burning a lot fuel to go nowhere. Persistent buying on the lows. 

Gold and silver rallied steadily higher on declining volume. According to news agencies Goldman put out a positive forecast targeting $3000 in 2025. JPM echoed a similar opinion, “the sell off was a stumble,” they said, “not a fall.” I honestly can’t remember a prominent bank saying anything positive about gold. Two in one day is a record.  

The Yen is still wearing concrete boots at the bottom of a dark pool.  

So, yes… The Yen….  

I have a question.