Precious Complex

Yesterday the PM complex was whacked on a White House rejection of a Boehner offer.  Blah blah, whatever.  I didn’t look, but I’m sure the conspiratorial goldbugs were screaming manipulation.  But is a “High volume flushout with positive divergence in MACD, bottoms start like this” more than hope? 

Gold, Silver Prices Melt As Stocks Rise; Time To Buy? at IBD.

Japan’s Shinzo Abe prepares to print money for the whole world in the renowned Telegraph.  Upon reading the article, the title is not sensationalist in describing the world’s third largest currency and its race to the bottom.

Bitten By the Gold Bug was John Mauldin.

Fed drops the pretense, buys bonds by Bill Fleckenstein.  Cat calls for more continue:  Time for Nominal Growth Targets at Project Syndacate.

Meanwhile, the housing market gets downright strong.  HMI Hits 47…Employment Gains To Follow at Value PlaysThe Housing Market Recovery Boosts New Car Sales at Edmunds.

Upcoming calendar:  Stock markets are closed only on Christmas and New Year’s days.  Monday, December 24, is an early 1pm close.

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