1. It is Veterans Day today so I'd like to say thank you to all of our veterans. We should always remember that the freedoms that we have in this country are because of their bravery and efforts.  

2. Markets are up slightly today. The NASDAQ Composite is the strongest of the major indexes this morning trading up 1.25%. Over the past few sessions the NASDAQ has been weak. So this bounce in the tech heavy NASDAQ should be watched with some caution. The DJIA, S&P 500 and the Russell 2000 Index are all overbought in the near term at this time.  

3. Gold and silver backing and filling today. Gold futures down $14. Silver futures down .21. Just more of the chop. Very range bound.

4. Q&A options are risky right now. You can always buy or sell the stock. We lost on USO options. They reogranized the USO etf and we took a loss. Loss was locked in.

1. Money continues to rotate out of technology today. The tech heavy NASDAQ Composite is currently down by more than 1.3%.There is some major selling taking place in market leaders such as Amazon, Facebook, Microsoft, Alibaba, and numerous cloud software stocks. The good news is that we are still seeing some money flow into energy and retail stocks.  

2. Yesterday, the big banks had a huge day. It looks like they are stalling out a bit today, but this is common after a huge market advance. Everyone must watch the leading financial stocks going forward. Travel stocks were on fire yesterday, today they’re pulling back a little. Mostly pulling back. Natural after a big advance.

3. Energy sector is having a big move, it’s down but not out. Biden’s presidency would kill it off. You can’t replace ice cars in a few years. The story is baffling. Hydrogen fuel cells may be the way to.

4. Precious metals sector, gold bouncing back up $28 and silver up 3.5%. Don’t get too low when they’re down and don’t get too high when they’re up.

1. The big news today was the announcement from pharma giant, Pfizer, that they have a 90% effective vaccine against the Covid 19 coronavirus. This news has sent the futures soaring today ahead of the opening bell. The travel sector is flying off the charts this morning on the back of the news. airlines, hotels, and even retail stocks are surging on the back of the news. The vaccine will be ready by December. Claimed 90 percent effectiveness. Nick closed out his Russell 2k. Tech is getting hit hard today. Financials are going higher. JP Morgan is up 10% today. BOA also up over 10%. Wells Fargo is also up a similar amount. We were wrong about the travel sector’s timing, but here it is.

2. Election not having an effect now, but it will shortly. Have rumors of Trump’s demise have been greatly exxagerated.

3. Gold and silver getting hammered. $100 down day? Silver $1.5 GLD down almost 5 percent. Silver sell-off, perfect formation. Could happen before the end of the year. Backing and filling. Nick will be analizing the metals today. Still bullish inside bar on monthly chart. Miners are down 8% on GDX. Back to last week’s levels. Still a little more to go and ultimately higher.

4. The Great Reset is frightening. Effort is underway to take all currencies digital, probably for 2021. Dollar is still a strong horse for the next two years. Will physical currencies be eliminated? 70 percent of $100 bills are held outside the US as a store of value.

1. The October Nonfarm Payrolls number was +638K vs. expectation of +570K. The October Unemployment Rate dropped to 6.9% from 7.9%. This was a good report overall and positive for the economy.

2. Markets are stalling out today. Small declines across the board. Market has had a huge rally the past 4 days. The S&P has gone from 3250 -3500. How long can it go on for. Could go on to Thanksgiving or Christmas. Favorable seasonality trends. Have to beat October highs and September high - major top at 3588. October was 3550. Market loves that power will be split. Into next year, depends upon who is in office. Election will go to the Supreme Court. Working on 2021.

3. Gold and silver. Gold was on fire yesterday and is holding up well. Great action for gold miners too. Still in that sideways pattern. Silver was also on fire. Up another 1.8%. $26 dollar level is where it will stall out a bit. Went from slightly below 23 to nearly 26 this week.

1. Markets are continuing to rally again today. The move since November 2nd has been explosive and the October highs are now being tested. The volume has been heavy on this move up so this will usually last a bit longer. No real problems, rally to continue

2. The election results are still not in yet and this is still a factor for stocks in the near term. More importantly, even if President trump does not reclaim the office as long as the there is gridlock in DC then that will help the markets rally near term. Is stimulus on its way? Will stimulus be permitted by the senate? More gridlock which is good for the market.

3. The Weekly Jobless Claims number was 751K. That was somewhat in line with expectations. Continuing claims declined to 7.285 million from a revised count of 7.823 million. Eclipsed by election noise.

4. Later today, the FOMC (Federal Open Market Committee) will make their interest rate policy announcement for the United States. While we do not expect a policy change, the verbiage can sometimes move markets. 

5. Gold and silver blast-off. Markets are inflating. Flying higher, great move in gold. Gold futures up $52. Silver monster move today, futures up $1.25, more room to fly. Going to $26, will it stall out then. There’s no problem in the metals, relative strength is huge. Inside bar pattern continues. No break-out signal yet. A much higher high is coming.

1. Another election that is likely going to the Supreme Court. I would love to say that I'm surprised, but I'm not. This was destined to be like this and here we are. 

2. Markets are mixed today. The tech heavy NASDAQ is having a big morning with lots of upside. Perhaps the markets are looking at gridlock as the Senate is likely to stay Republican. Tech up over 3%. Cap goods are getting hit. Still bullish going into the holidays. Watch the market moves it will tell you everything you need to know. We hit the low last week and have had a great bounce.

3. The October ADP Private sector employment number was 350,000. The  prior number was  749,000, so this is not as strong as last month. 
Goods-producing: 17,000
Service-providing: 348,000 

4. Gold and silver. Today gold is down slightly, still above $1900, silver down .19. Not showing any major signs of strength. Still putting in the sideways pattern. Be patient.

5. Mother of all stimulus packages is coming down the road. Massive bailouts for states and cities.

1. Russell 2000 leading the rally up 2.9%. Dow +550. S&P up 59. Energy a little bit on the soft side. All the major oil companies were weak. Last month the Russell 2000 was the only index up for the month. It held up the best which is a great indicator, on it’s way up to 1700 plus. Markets are not embracing Biden as president. No one is excited about his fiscal policy.

2. $5 million bet on Trump $15 million. The line is clearly broken. Thanks to news media and propoganda. It’s appalling. Like nothing in our lives before.

3. Gold and silver had a good day. Futures and etf’s were strong. Miners also had a great day.

1. Markets finished nicely higher today. The major stock indexes all finished higher by more than 1.0% with the exception of the tech heavy NASDAQ Composite. That was negative for most of the afternoon, but caught a bid in the final ten minutes of the session. It closed up 0.42% by the close. Russell up 1.78%, when it does well it’s a positive going into the election.

2. Financial stocks and energy stocks were strong today. These 2 industry groups have been laggards this year, but actually were strong all session. Earnings season is still going on, but a lot of the big cap tech names have already reported. JP Morgan and the major banks were up. Energy has been the dog. Exxon up 4 percent. Oil services up 5%. Energy has been extremely bearish recently, so this could be an election indicator. A lot riding on the election.

3. Gold and silver up strongly today. Every time it gets hit to the downside, it goes up. Silver had a 2% up day. Miners all very strong.

4. Expect light volume trading day tomorrow. Caution is the byword. Bottom has probably come in. Rally on late Friday and then Monday finished the green.

1. Markets are trading lower again today. Bouncing off of the lows. Nasdaq big loser. Last night, the mega-cap tech stocks such as Apple (AAPL), Amazon (AMZN), Facebook (FB) and Alphabet (GOOG) reported earnings. While the numbers reported by big tech were decent it is not helping the stocks right now. Google is the only one going up, all the others are down. This is setting the tone for today. There is also election risk at play right now. There are lots of money managers that are scared right now ahead of this election. I think it is understandable and have warned my membership about the election risk in play.

2. Gold and silver finally get an up day. Good up day. Gold is up in a down market. Asset prices increase. Gold is a good leading indicator. GDX and GDXJ are both in positive territory. They acted very well yesterday while the metal was lower. If the miners lead, this is positive for pm’s. m

1. There was lots of economic data out this morning. The big news was the soaring GDP report which posted a Q3 GDP increase by an annualized rate of 33.1%. This number was slightly better than expected. It also shows what can happen if you open up the economy. Today we’re getting a rebound. 3 more trading days till election is over.

The weekly initial claims report also was better than expected with 751,000 news.  The continuing claims dropped to 7.756 million from a revised count of 8.465 million. So things are slowly improving. 

2. Yesterday was a major selloff. The news is blaming a rise in coronavirus cases and European lockdowns for selloff. I personally believe this is really all about the election. Can’t wait for the election

3. Gold and silver also sold off. Gold down slightly. Silver also down slightly. Everything sold off and went into cash. 95% of everything sold off. We’re just going through a normal consoilidation after the parabolic rise. Even if we get to $1850, long term trend is still moving higher. Even down to $1700, it would be a monster setup.