Just when you thought this morning would snooze and the rest of the week was going to meander around 1,320…..bam! Out the window.
But it’s OK. Bennie’s got the POMO gear on and the recovery is under way. We’re back above 1,300 and it’s about time to throw this thing higher – if for no other reason than liquidity continues to ramp, and so does inflation.
I am beginning to look for an overbought sign in Silver, but it should only be temporary as we still have 2 months of POMO to go and lots of “followers” in the metals that will probably need some shaking out. Miners have been weak as of late, too, which is a sign of potential reversal.
Keep your wits about you, though. Gold and Silver can go parabolic at any time and a short daily cycle to cleanse this thing would be good. Nothing goes straight up, right?