"The period of financial distress is a gradual decline after the peak of a speculative bubble that precedes the final and massive panic and crash, driven by the insiders having exited but the sucker outsiders hanging on hoping for a revival, but finally giving up in the final collapse."
Charles Kindelberger, Manias, Panics, and Crashes: A History of Financial Crises
"The loveliest of the Devil's tricks is to make you believe that he does not exist."
Charles Pierre Baudelaire
"And they said to him, 'Where will this happen, Lord?' And He said to them, 'Where death is, there a gathering of vultures will be.'”
Luke 17:37
Gold and silver rebounded sharply, with several of the mining stocks showing outsized one day gains.
Newmont Mining was a good example.
Stocks themselves struggled with big cap tech leading the way lower.
VIX was higher.
The Dollar fell, haning on to the 96 handle by its fingernails.
There will be a stock option expiration tomorrow.
Have a pleasant evening.
