Quick update that will take just as much time as to drink a double espresso…
FED meeting once again! The moment that we all were waiting for, the circus is in town , is that time of the month!
So, we’ll taper…MANANA, sorry, NEXT year! or the next, some day anyhow. If you think the FED is going to announce tapering this morning, then think again. The games are over for the year, count your blessing, the cluster bubbles in equity, bonds, student loans, municipal bonds, mini-real estate inflated prices and similar are still intact! We made it another year DOW, S&P , Nasdaq, WE MADE IT AGAIN!!! So, what this means for PM’s???
We are going to see a very different year in 2014… you just wait!
Today expect volatility, then by end of day flat spot prices for gold & silver.
HEADS UP: the last week of the year I think we’ll see short covering and a nice PM’s rally. After a long year of beating they may just let it go for a bit. Short covering, books adjustments, profit taking and so forth, I would not be surprised to see PM’s get back 5-10% of the double digit losses for this bad, dysfunctional 2013…
Ciao and don’t stir that espresso too much: before you know it the FED circus is going to close for the year. Later!