I will be out for the weekend leading the Rowe seminar with my lovely wife Becca. We will be entirely out of range the whole time, so I will not be around the site until Sunday afternoon.
Our house closing went flawlessly. For those who are interested, I intend to chronicle every step I take as we increase the resilience of this property. I plan to set up a separate place here on the inside for those discussions, so as not to co-mingle economic and lifestyle discussions.This week, the markets really had an odd feel to them.
I was most fascinated with the price action of gold (up), even as the Dow and S&P headed down. That’s unusual. It is doubly unusual as we head into options expiry week for gold (and silver), plus futures rollover (rumored to be very thin and slow right now).
Normally, with huge open positions and the big boyz all positioned short, the usual behavior is for gold and silver to head down hard into expiry, as they get sold hard by da boyz as they protect their mountain of shorts from bursting into financial flames.
I know we’ve never had one, but I will be glued to the screen next week watching for signals that gold and silver shorts will finally get busted and run for the exits. Bring popcorn.
The other big news this week was that the 3-month T-bill went negative yesterday. I’m not entirely sure what that means yet, but the notion of paying money to store money is usually a bad sign.
by pinecarr