It’s Tuesday!
Typical Tuesday Takedown for the metals (and stock market). If stocks stay weak into Jay Powell’s 1:30 Town Hall, look for him to talk doveish to counter some of the other committee members who have been talking up tapering lately. These guys keep playing, good cop bad cop, to keep gold and silver from getting any traction. Wise to go long the metals before his speech.
NEM 60 calls look particulary attractive here as a spec. Not the ones that expire this week(that’s for real gamblers) but the Sept. would be my play.
Relentless attack on the miners some of which are making 52 week lows
Final wipe out over the next couple months.