Dec 10-14 '12 Eco Calendrudge: Molto Economindo's FOMC/MTG/CPI/PPI M-O-U-S-E
A few planned economic blivits today, but all eyes on the Fed and those #$%$ artists #$%$ and Oblamer.
The FOMC is not expected to change any numerical targets, but continuing bond buying with printed rather than depleted short term money, and THAT's silver friendly. They may even target an unemployment number instead of waffle words for the days when irates can be cranked up again. Well that was yesterday, tonight silver elves are taking some off the table.
For silver what looked good yesterday isn't holding overnight, we're still inching forward in the general market by either the greatest headfake in the history of headfakes, if fiscal cliffs aren't avoided, or no. Institutions riding this one out have more ballyounies than I can ever boast. The prospect of sell half your winners now, keep half just in case, added to sell losers and offsetting winners, is just what the prudent demand, and that doesn't happen under the radar, although there was some sector rotation into the Dow and the bigger S and P 500 this past two weeks. That's a real sell side prophesy for the next two weeks--the only way that will be sidestepped is if both Oblamer and #$%$ stand up and say, forget the law of the land, we were kidding, we can still get this done by 31 January 2013. The markets will breathe a sigh of relief, and the rule of law will take another in a series of knife wounds to the gut.
Our legacy to our kids: when the going gets tough, the tough shout we were kidding.