Stocks were mixed today, with big tech attempting to rally while the broader markets were sluggish.
Traders were impressed with the print on new jobs added in a report from ADP this morning. I had thought that ADP was obtaining their numbers from actual data from their payroll services business. Instead, I find from reading this article that it has become more of an educated guess in the manner of the BLS imaginary jobs report.
Although VIX volatility (risk) indicator moved higher, gold and silver moved lower in an inverse correlation to the dollar.
I am liking silver here. I will like it quite a bit more if it can hold 17 and rally back from there after this Payrolls and FOMC nonsense is past us.
I hear India has been buying gold again, as a portion of the general phenomenon of Asia buying the hardest, least counterparty contingent currencies known throughout history.
The Beltway Bandits have gone barking mad. Hypocrisy and deception are their meat and potatoes. Of course, I think everyone can now see it, but it has been a long time coming. This is what happens when fraud becomes fashionable.
I was so disgusted with the new ‘health care’ proposal from Ryan and the GOP house that I really could not say much yesterday except ‘justice is coming.’
That is an interesting phrase. It says something about ourselves to ourselves, in how we interpret it. And that may be the most useful thing of all.
Have a pleasant evening.
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