Loading ...Just askin’ because the SM futures are roaring. I haven’t seen any headlines so I’m wondering if Trump ordered Bessent to spring the PPT into action.
Oil, rates and the dollar have all reversed lower. Big reversal in oil, it was above the $100 level last night and now all the way down to $92, rates were up near 4 bips, now flat and the dollar has reversed and is mildly higher.
Even pm’s have come off their lows, silver got all the way down to $60, now $67. Gold $250 off the lows. Course neither of them have actually gone positive like the SM, and probably won’t because that would encourage some buying of a reversal, but still a reason to wipe the sweat off the brow.
PM shares are limping toward flat. Is it safe to finally buy the plunge as maddog suggests? GDX is slightly positive this am.
Be nice if the metals actually finished higher and fully reversed like everything else, but I digress….
Course the big risk is that Trump follows thru with his 48 hr. warning to open Hormuz, and starts bombing Iranian power plants and oil fields. If he does follow thru, things will get chaotic in a hurry.
Silver just went positive.