evening wrap, february 9
market vibes
“Only when the tide goes out do you discover who's been swimming naked.” Warren Buffett
In the news in NY today, GS said they see 2026 IPO volumes double 2025. Senator Tillis reiterated his threat to block Warsh if the DOJ doesn’t drop the investigation into Powell’s potential perjury indictments. Either Powell leaves full quits or… he leaves one way or another, I think.
The January jobs report will be released at 8:30 AM EST on Wednesday. CPI on Friday. ADP tomorrow at 8:15 AM EST. You may have noticed stock indexes are negatively correlated with Job creation.
In other lesser items, The US is tied for 7th in total medals at the winter olympics. Starmer teeters, Ms Maxwell takes the 5th, another 2000 died in Ukraine. And…spring training for MLB pitchers and catchers starts tomorrow!…Games on TV starting February 20.
in the markets
Gold spent the entire session on the highs and closed on the highs in the lightest volume since August 25th, 2025. A market that clings to its highs implies unfilled buying below. The buyers are definitely down there circa $4800 but reason restrains the daring when scars are still on the mend.
Silver is up 31% in 48 hours … (basically without a downtick) on the lightest volume today since December 8.
