My initial thoughts on this insanity is that we went from total despair overnight to downright euphoria in about 12 hours time. At this rate of mood swinging, those with bi-polar disorder are going to be looking downright tranquil and serene.
Another thought - all those brand new shorts who loved to chase momentum and sell prices lower just had their entire NEW and REVISED MARGIN requirements to trade silver wiped out. The move from near $26 to near $31 amounts to just a tad less than $25,000 per single contract. The new margin requirement will be raised at the end of today's session to $24,975.
At this rate, they will need to hike margin requirements to $35,000 for single futures contract.
One last thought - I think I waited too damn long to fill up my gas tank today. I should have done that overnight....
"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput
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