WEEKEND WRAP: Market Mayhem Amid Election Dispute, Bonds Racked, Precious Metals Sacked; S&P Reaches New Record

Other than the tech-heavy NASDAQ, stocks had another solid week, especially the NYSE Composite Index, which includes over 1,900 stocks, at least 1,500 of which are U.S. companies, as well as real estate investment trusts (REITs) and tracking stocks.

While the S&P reached a climactic record closing high on Friday, it was out-paced by the NYSE Composite, which added more than 500 points (4.11%), approaching a record high of its own. Closing within 375.66 points of its all time high of 14,136.98 (February 12, 2020), the Composite index is within 2.6% of setting a new mark. Such a move would likely align with gains to record closes on the NASDAQ (12,056.44, 9/2/20) and Dow Jones Industrials (29,551.42, 2/12/20). The Dow closed at a nine-month high Friday, leaving it a mere 71 points from a record.

Keeping in mind that stocks don't trade in a vacuum, astute investors may be viewing the current near-record or at-record valuations a bit rich, considering the challenging political and economic backdrops presently imposed.

Some states have begun to re-implement lockdown measures and other restrictions in response to rising infection rates of COVID-19. At the same time, the makeup of the political leadership is still in doubt, with the senate hanging by two elections in Georgia which will be decided by run-off elections on January 6th, though the larger concern is still over the presidency, which the mainstream media has awarded to Democrat candidate Joe Biden and which President Trump has steadfastly refused to acknowledge, claiming the election was stolen, as evidence, recounts, and lawsuits continue to mount.

Adding in no small measure to the political turmoil was Saturday's "Million MAGA March" or "Stop the Steal" march in Washington DC. Some estimates believe the crowd that walked from Freedom Plaza near the White House to the steps of the Supreme Court building was as large as a million people, a claim that, naturally, was disputed by elements of the mainstream media. Marked by fiery rhetoric from a variety of speakers, including radio talk show host, Alex Jones - who proclaimed November 14, 2020 to be the beginning of a second American revolution - the assemblage of patriots backing Donald Trump was large enough that the mainstream media could not ignore it nor downplay the level of patriotic spirit on display.

While either the Supreme Court or the House of Representatives may end up being the final arbiter of the presidential election, lawsuits filed by the president and other informed entities did not fare well during the past week, with state court judges dismissing a number of actions in Pennsylvania and Michigan. Meanwhile, a Georgia recount (The Associated Press (AP) is calling it an audit) has been rushed, with inspectors only allowed at a 1:10 ratio to recount tables and the results supposedly to be final by Sunday afternoon.

Georgia Secretary of State Brad Raffensperger called the exercise "an audit, a recount and a recanvas all at once," futher muddying the electoral waters.

Those are the main elements at this time. However, there is so much news, rumor, and questioning that it's impossible to cover all the ground in one article, or many. A number of links below may provide some direction for those interested in doing a "deep dive" into the post-election malaise.

On the economic front, unemployment remains elevated, and could become considerably worse if states begin to clamp down on public movement and activity, as mentioned above. Currently, Oregon and New Mexico have expanded partial lockdowns, while North Dakota has issued a statewide mask mandate and the city of Chicago is advising its residents to not travel or engage in traditional Thanksgiving holiday gatherings.

The response to CV-19 has put a severe crimp on 2020, and now a second wave is inspiring even more damaging restrictions by governors who believe they are tasked with the ultimate health of each and every citizen. Policy differences have crept into presidential politics as well. The Trump administration believes that CV-19 can be dealt with best without lockdowns, while the presumptive Biden team has proposed a nationwide mask mandate and lockdown of between four to six weeks.

While cases were rising in many locales, the announcement Monday by Pfizer that their vaccine had proven 90% effective (on a small sample) sent stocks soaring, though the euphoria waned noticeably by midweek. Friday's surge in stocks was more the result of a lack of bad news and pre-Black Friday posturing than any solid economic prospects.

Oil spent the week zig-zagging, with WTI crude on the NYMEX procing from $37.14 the prior Friday to close out this week at $40.13, but not before hitting $41.45 per barrel on Wednesday. For all the huffing and puffing the oil giants like OPEC, Russia, the US, and Iran have been doing, the price has remained under pressure and quite stable throughout the global pandemic panic. While most parties would like to see higher prices, the constraints put on the public have kept the price from rising to any meaningful degree. There is, quite simply, a massive oversupply coupled with extremely slack demand. Regardless of whether the CV-19 pandemic is contrived or real, serious or benign, until some kind of global solution becomes normative, the economy and the price of oil are likely to remain moribund.

Low or stable energy prices are surely not helping the Federal Reserve's effort to induce massive inflation. It seems that every time one central bank - particularly the US Fed, ECB, or the BOJ - issues a policy directive, there's an equal and opposite force pushing against it.

With the massive entry into equities that started the week, treasuries gapped from Friday into Monday with the yield on the 10-year note rising from 0.83 to 0.96% and the 30-year yield ripping from 1.60 to 1.73%. As the week wore on, with bond markets closed Wednesday for Veteran's Day, the one-off was largely negated. By Friday, the 10-year yield stood at 0.86, the 30-year at 1.65, hardly a move to inspire much ado about anything.

Gold and silver were battered on Monday, apparently deemed "non-essential" by the equity crowd. Gold fell from $1951.70 on Friday, November 6, to $1854.40 at the New York close Monday, November 9. After yet another beatdown, gold recovered slightly, ending the week at $1881.40. It was an equally-distressing blue Monday for silver stackers, who saw the metal slashed from Friday's close at $25.66 to $23.70 Monday. Silver's bounce-back was better than gold's, ending at $24.76 on the 13th.

Presented below are the most recent prices for common gold and silver items sold on eBay (numismatics excluded, shipping - often free - included):

Item: Low / High / Average / Median
1 oz silver coin: 32.00 / 42.02 / 36.22 / 34.59
1 oz silver bar: 30.87 / 43.95 / 35.52 / 33.84
1 oz gold coin: 1,975.00 / 2,038.19 / 2,010.10 / 2,005.06
1 oz gold bar: 1,939.16 / 2,000.27 / 1,984.98 / 1,990.33

It's apparent that silver held up better than gold and that despite Monday's smackdown, premiums remain high. What's also becoming clear is that common (non-numismatic) gold bullion coins have become scarce and more specialized, collectible items have found their ways onto the eBay platform, either from established dealers or individuals looking to trade their precious metal holdings for cash.

Links to relevant election dispute articles:

Incomplete List of Suspected Fraud Issues in 2020 Election Sorted by State with Recommended Actions on How to Address - Extremely large and growing list of articles purporting Democrat-led election fraud (with links).

The Biden-Harris Nationwide Election Fraud Scheme to Steal the Ballot State by State Prohibits Them from Winning the Race - article from State of the Nation outlines how fraud would "vitiate everything."

An impassioned Alex Jones speaks at Saturday’s Million MAGA March:

Finally, here's Trump attorney, Sidney Powell, talking with CNN's Lou Dobbs about suspected vote-switching code in Dominion Voting Systems - used in elections nationwide - promising to "release the Kraken."

At the Close, Friday, November 13, 2020:
Dow: 29,479.81, +399.64 (+1.37%)
NASDAQ: 11,829.29, +119.70 (+1.02%)
S&P 500: 3,585.15, +48.14 (+1.36%)
NYSE: 13,761.32, +209.86 (+1.55%)

For the Week:
Dow: +399.64 (+1.67%)
NASDAQ: -65.94 (-0.55%)
S&P 500: +75.71 (+2.16%)
NYSE: +542.65 (+4.11%)

It's Friday the 13th. Do You Feel Lucky?

Today is Friday the 13th.

The concept that the 13th day of the month falling on a Friday has origins that possibly date back as far as the Last Supper, where Jesus Christ was betrayed by apostle Judas Iscariot, the 13th person at the table.

Such tradition may also have come from the Knights Templar, when, on Friday, October 13th, 1307, King Philip IV of France, in league with Pope Clement V, ordered all Templars to be rounded up and thrown in prison. The Knights were accused of numerous crimes including heresy and treason.

Also known as triskaidekaphobia, fear of the number 13 has also created traditions such as skipping the 13th floor in buildings in an effort to avoid bad luck.

For the majority of people, it's just another day. And, for people who enjoy trading stock certificates for digital fiat currency, it's an opportunity to cash in prior to the weekend, when markets are closed.

What fell off the table on Thursday might be picked up on Friday. Markets were spooked by rising number of cases of CV-19 popping up all over the place, though most intelligent people have determined that the pandemic fear-mongering is just another ploy by the mainstream media to distract and confuse people, subjugate them the will of some higher order. Judging by the number of people wearing masks these days, it appears the media hype has been quite the success.

Truth be told, CV-19, for what it's worth, is no more deadly than the common cold for 99.98% of the people walking the planet. Sure, it's more lethal in people over 60, 70, and especially those beyond 80 years of age, but the levels to which various municipalities and state governments have gone to prevent its spread has been nothing short of a massive failure. If masks, social distancing, closure of businesses, schools, banning public gatherings and other measures that have been employed over the past eight or nine months were effective, then why are "cases" spiking now?

The most reasonable explanation for the rising case counts is the increase in testing using tests that return many more false positives than actual infections of the virus. The widely-used PCR tests have been noted by experts to be miscalibrated, making them capable of picking up even the most minute traces of any coronavirus, of which there are hundreds, if not thousands, such as common colds and flu.

Meanwhile, the world is supposed to wait for Big Pharma companies to deliver a vaccine that will rid us of this scourge. Buying into the Bill Gates, Klaus Schwab, World Economic Forum's Great Reset mantra is a recipe for mass hysteria the likes of which the world has seldom, if ever, seen.

So, today, might be a good day to consider one's luck, in the reality that wealthy madmen with a global dominance agenda haven't yet succeeded in convincing everybody that their plans are for the good of humanity. A good place to start understanding the machinations of the Davos crowd of billionaires and policy makers is the book, published in July, COVID-19: The Great Reset authored by Klaus Schaub, founder and Executive Chairman of the World Economic Forum (WEF), and Thierry Malleret, co-founder and principal author of the Monthly Barometer, an analytical and predictive newsletter on macro issues for high-level decision-makers.

Within the pages of the book, readers can discover what plans these globalists have for the world's "peons." It's almost medieval in its design.

A recent Gallup poll found that a third of respondents in the United States would be unlikely to comply with new lockdown orders should governments re-impose the stringent guidelines that prevailed in the Spring. While that 1/3 of people may have had enough of the entire pandemic scenario that's being forced upon the citizens of the world, that still leaves two-thirds of the population ready and willing to have more of their civil rights and freedoms violated with non-binding guidelines, restrictions, and lately, "recommendations."

At the top of the pandemic food chain of command are people, like Dr. Fauci, who less than a month ago warned that Americans may have to cancel Thanksgiving gatherings because of the threat of CV-19. These kinds of warnings and scare tactics may work on a certain malleable portion of the population, but most people are still going to dine on turkey with gravy, stuffing, mashed potatoes and all the fixings of a traditional holiday dinner.

It's likely better for one's mental and physical health to ignore the warnings and droolings from people like Anthony Fauci and other mad pseudo-scientists, who, to a man or woman, have yet to issue guidance about strengthening one's immune system through proper diet, exercise and use of vitamins C, D3, Zinc, and Quercetin. None of these experts have expressed any inclination toward consumption of green tea, honey, elderberry extract or any other known holistic preventatives.

So, this Friday the 13th shouldn't be unlucky for many, though surely any number of bad things could - and likely will - happen. People are just prone to error. Some will stub their toes, others will lose their car keys, some may have bad hair days. Whatever happens today or any other day will happen. There's little anybody can do about the regular ups and downs of human existence.

So, today, as Clint Eastwood, playing Harry Callahan in the 1971 film classic Dirty Harry poses the question, "do you feel lucky?"

At the Close, Thursday, November 12, 2020:
Dow: 29,080.17, -317.46 (-1.08%)
NASDAQ: 11,709.59, -76.84 (-0.65%)
S&P 500: 3,537.01, -35.65 (-1.00%)
NYSE: 13,551.46, -173.32 (-1.26%)

S&P 500, Dow Industrials Fall Short of Record Closing Highs As Political, Economic, Medical Pressures Mount

Wednesday's 27-point rise on the S&P 500 left the broad index just below its record close of 3,580.84, attained on September 2nd of this year, leaving the S&P less than three percent from a record mark.

The index came close to the record intraday, hitting 3,581.16 mid-afternoon, but late day selling prevented a record close.

The Dow Jones Industrial Average was poised to reach a record closing high, but failed to do so, losing 23 points on the day, seeking a close above 29,551.42, the level it closed at on February 12, just prior to the late winter corona-crash.

Stocks came under pressure late in the session as Monday's rally, spurred by the potential Joe Biden presidential victory and Pfizer's announcement of successful COVID-19 vaccine testing began to fade as President Trump ramped up efforts to overturn unofficial counts in Wisconsin, Pennsylvania, and Michigan. The president was awarded North Carolina and Alaska during the day, pushing his electoral vote count closer to the necessary 270 needed to retain his position as leader of the free world.

Georgia's too-close-to-call presidential tally triggered an automatic recount and Wisconsin is within the one percent threshold for a candidate to request a recount. Outlier counties include Dane and Milwaukee, which include the cities of Madison and Milwaukee, where Joe Biden took 76 and 69% of the vote, respectively. The results appear skewed, as Trump won handily in other Wisconsin cities, Green Bay, Waukesha, Appleton, and Racine. Biden's lead is just over 20,000 statewide.

Just the fact that Trump is calling for recounts and has filed suit in various jurisdictions raises the specter of fraud having been committed by parties loyal to Biden. Election results looked suspicious even the night of the election, after Trump won Florida, Ohio, and Iowa easily. Vote counting was suspended election night in Michigan, Pennsylvania, Nevada and elsewhere the night of the election. Democrats and the mainstream media insist that the president has no evidence of widespread voter fraud even though such evidence continues to pile up across the country.

Essentially, the remarkable stance taken by the media to shut down any questioning of a Biden victory simply does not pass the smell test. Biden, despite running a campaign mostly from the comfort of his basement and drawing sparse crowds (while Trump drew tens of thousands to rallies) at events, supposedly won more votes than any candidate in history, including surprassing the record set by Barack Obama in 2008. On the surface, that result stretches reality to a point of unbelievability.

Thus, Biden's media-imposed victory may have to at least wait a while, and the possibility that President Trump will eventually be declared the victor on December 14 when state electors are certified, is growing. With considerable doubt being cast on the election front, investors may take a wait-and-see approach and if it appears that Trump gains an upper hand, markets could reverse in a hurry.

On the vaccine front, following the release of Pfizer's rushed press release Monday, the shine is fading on their story. The vaccine in question has to be isolated and kept at a temperature of -112 Fahrenheit and experts suggest that widespread distribution - considering the logistical issues ahead - may not occur until later in 2021. Additionally, rising numbers of COVID cases are prompting many states to begin issuing renewed restrictions on work, travel and assemblies, a negative for the economy and stocks.

These factors are contributing to a healthy degree of reservation and skepticism on the part of investors, to say nothing of the high valuations currently offered on popular stocks. Adding to the worry wall is the upcoming holiday season, that, with retailers already having been splattered this year, may not be as brisk as some might like due to coronavirus fears and government restrictions, though it will likely be a huge positive for online retailers and delivery services.

Altogether, political turmoil, virus fear, crippling government actions, and slowing retail trade may be too much for an already frail market to handle, possibly resulting in a December like that of 2018, when a meltdown crash was averted by a phone call from Treasury Secretary Steven Mnuchin to Fed Chairman Jay Powell and his subsequent reaction.

As they say on the front lines, keep your powder dry.

At the Close, Wednesday, November 11, 2020:
Dow: 29,397.63, -23.29 (-0.08%)
NASDAQ: 11,786.43, +232.58 (+2.01%)
S&P 500: 3,572.66, +27.13 (+0.77%)
NYSE: 13,724.78, +16.79 (+0.12%)

Stocks Look To Extend Gains On Back Of Election Fraud, Sold Out MSM

Joe Biden is about to go down in flames.

The Trump team is filing lawsuits faster than a swarm of bees collects pollen. They're likely to prevail in Michigan, Wisconsin, Pennsylvania, win Georgia, and Arizona. Alaska (8 days? Good grief) and North Carolina were declared for Trump (and senators Tom Tillis, NC, and Dan Sullivan, AK) overnight, so, when the recounts, audits, and court challenges are satisfied, President Trump will have 305 electoral votes, more than enough for another four years in the White House.

Anyone with an inquisitive mind and more than half a brain (qualifications that exclude BLM and ANTIFA protesters, all AOC voters, most pollsters, and a majority of the mainstream media open mouths) can clearly see that election fraud was widespread, not only in battleground states, but nationwide.

(Editor's note: Yes, we've departed from the usual plain facts reporting to today's partisan giddiness. Worry not, this level of creative writing will only last until January 20, 2021, or until President Trump fires Dr. Fauci and tells the American people to take off their stupid masks.)

The pollsters had it all wrong. The mainstream media continues to assert that team Trump's claims of election fraud and interference is either false, unfounded, or "disruptive to fair election practices" all the while damning videos, lawsuits, affidavits, and challenges proliferate. If the judiciary in Pennsylvania, Wisconsin, and Michigan have any sense of propriety and fairness, Trump will win all three states handily.

Possibly the biggest fraud was committed in California, which isn't going to be disputed, though there's ample evidence coming soon that the 64-34% edge - the highest in the country - handed to Joe Biden is only off by about 4 million illegal or somehow illicit votes. Voters in California rejected an affirmative action referendum but voted overwhelmingly for liberal Joe Biden? That’s a tough sell.

Meanwhile, in the la-la land otherwise known as Wall Street, stocks look to move higher as the Dow Jones Industrial Average seeks a new all-time high. The criminally-insane bankers just can't get enough to shield themselves from the coming avalanche of election recounts, audits, lawsuits, and, yes, protesting, looting, and rioting by the left.

The Dow Jones Industrial Average needs to close above 29,551.42 to exceed the all time closing high from February 12 of this year.

Today is Veterans Day. The stock market is open regular hours. The bond market is closed, as are banks, schools, and the USPS (hey, they need a break after delivering all those ballots the past few weeks). Veterans Day is the current name for Armistice day, which was celebrated on the 11th hour of the 11th day of the 11th month, when World War I ended. The holiday’s name was changed to Veteran’s Day in 1954 to honor all veterans, not just those that fought in the first world war.

Act accordingly.

At the Close, Tuesday, November 10, 2020:
Dow: 29,420.92, +262.95 (+0.90%)
NASDAQ: 11,553.86, -159.93 (-1.37%)
S&P 500: 3,545.53, -4.97 (-0.14%)
NYSE: 13,707.99, +96.35 (+0.71%)

Markets Soar on Biden Ascension, Pfizer Miracle Vaccine; Precious Metals Crushed Once Again

Fake news, fake pandemic, fake president, why not a fake stock market rally?

Looks like we have one as stocks soared to new all-time highs on the first trading day since the media coronated Joe Biden as the next US president, kicking Donald J. Trump and his horde of deplorable supporters to the curb like cast off packaging thrown out the car window after a Big Mac meal. No longer needed. Out of the way.

Gold and silver were also discarded, beaten down mercilessly, probably by the same people responsible for more than 600,000 Biden-only ballots found in Pennsylvania.

While the election remains in dispute, the moving pieces and intricacies of post-election investigations - now including the DOJ after Attorney General William Barr sent a memo to prosecutors to investigate instances of fraud - are too many for most blogs and independent journalists to stay abreast of, Money Daily strongly advises interested readers to consult the Epoch Times Election Special, having, hands down, the best coverage of the situation on the planet.

In terms of financial markets' response to the attempted calling of the elected by the mainstream media and "miraculous" news that Pfizer's coronavirus vaccine has proven 90% effective in individuals testing the vaccine. Not the least of concerns are the requirements that two shots be given three weeks apart and that the compound must be stored at a temperature of -80 degrees Celsius (-112 F). Achieving and maintaining that temperature seems a long shot for global distribution.

Even with those challenges to a potential vaccine and the challenges to Biden's premature media escalation to president, Wall Street largely didn't care, boosting stock prices at the open, though the euphoria was tempered greatly as details on both the vaccine and election fronts emerged and stock prices declined in the afternoon trade.

Specifically, the NASDAQ, which actually ended the day lower, was up more than 200 points an hour into the session, but ended down more than 180 points. The high point of the session (12,108.07) was an intraday record though it failed to inspire confidence through the session. The all-time high closing mark for the NASDAQ was attained on September 2 of this year when the index ended the day at 12,056.44.

The Dow Jones Industrial Average soared to an intraday record (29,933.83) at the open, only to close nearly 800 points below that though still sporting a nearly three percent gain on the day and settled less than 400 points from the all-time closing high (29,551.42, 2/12/2020).

On the S&P, a similar pattern emerged, with the index reaching a level of 3,645.99, an intraday record, only to close the session at 3550.50, 30 points below the record close from September 2nd of 3,580.84.

Taking into account the absurdly high levels of excitement in the algorithms caused by developing stories, market forces showed declining confidence in the staying power of this rally, which, non-inclusive of the NASDAQ, will eventually be remembered as a loud noise from a dud.

What the internal players of fraud did manage to achieve was yet another blow to the precious metals complex, sending gold down nearly $100 and silver down more than $2.50 on the day. Rigging the price of precious metals continues to plague price discovery mechanisms. Reliance upon the futures prices to set the actual day-to-day prices for gold and silver is akin to allowing options trading to control the price of individual stocks, something some analysts say is already occurring in equity markets.

As pernicious as these beatdowns have become, there is little doubt as to their sources. Almost every major banking operation - from JP Morgan to Deutsche Bank to Societe Generale - has been found guilty of rigging markets as widespread as LIBOR, oil, gold and others. Specifically, JP Morgan was found to be criminally guilty of rigging the metals markets and paid fines in that case and other cases involving spoofing and other market rigging activities.

What the suppression of precious metals does for the fraudsters is lower the public perception of the value of real money while boosting the perceived value of the near-worthless US dollar fiat currency. The entire operation can easily be viewed as a global psy-op, similar to the plandemic and election fraud that has put a criminal - Joe Biden - at the cusp of being elevated to the world's most powerful position.

Thus, as public rage seethes and grows increasingly restless over what appears to be an overt and covert effort to undermine the integrity of the election process and anti-mask, anti-virus sentiment ratchets up in the US and in Europe, covert market participants continue to fan the flames of inequality with soaring stock prices.

What the stock market glory rise and the inverted reaction in precious metals cannot hide is the action in the bond market. Treasury yields absolutely blew out on Monday, with the 10-year note exploding 13 basis points higher, from Friday's close of 0.83% to Monday's 0.96%. The 30-year bond also gained 13 basis points, to 1.73%. Hot currency flowed out of bonds directly into stocks in a well-coordinated, organized financial scheme.

If anything is certain, higher interest rates will crush the economy from the inside out. This is one of the unintended consequences of absurd policy at the Fed and its insistence on buying any and all debt on the market. Being that stock market gains must come from somewhere, when the dam breaks and holders of debt sell, the resultant spikes in bond yields will trigger a massive chain reaction in global financial markets.

The stock market rally that took off in earnest last week appears to have come close to a peak on Monday. Tuesday's futures are mixed and international equity indices are extending gains, though this certainly looks to have all the qualities of a very short-term advance. How big a decline will depend largely upon how the major big money players inside the system want to manipulate public perception when Joe Biden's fake presidential results enter the courts and widespread election fraud is revealed everywhere except the mainstream media.

There's little doubt that public backlash will be extreme, and the media will continue to portray President Trump as a sore loser, bully, and proximate cause of public and market mayhem. In the coming weeks, look for extreme volatility, as Money Daily has previously mentioned.

When the truth is exposed, Monday's "miracle" rally will appear as a tiny blip in the greater picture.

Whenever the phrase "we're all in this together" is spoken or written, think central banking cabal, medical profession collusion, mainstream and social media obfuscation and censorship, government corruption, the BIS, and the Davos' crowd World Economic Forum (WEF). They are all in it together. We, the people, are being left to fend for ourselves in a world of mistrust, anti-trust, fake news, purchasing-power-poorer, phony data-driven information overload.

At the Close, Monday, October 9, 2020:
Dow: 29,157.97, +834.57 (+2.95%)
NASDAQ: 11,713.78, -181.45 (-1.53%)
S&P 500: 3,550.50, +41.06 (1.17%)
NYSE: 13,611.65, +392.97 (+2.97%)