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Awaiting the Bubble-Blowing FOMC

Daily Rap 09-19-2017

Trading through midday was sort of a nonevent, as the market just marked time around unchanged. With an hour to go, when I had to leave, the indices were about flat.

Away from stocks, there was a modest amount of motion, but nothing of any consequence, as green paper was basically flat, along with oil, fixed income, and the metals.

Sparse Attendance at No-Surprise Party It would seem that, once again, the mere prospect of an FOMC meeting has all outside markets afraid to make a move, lest they get caught offside by some sort of surprise from the very entity that never surprises anyone.

As far as the metals go, I saw some people voicing disappointment that gold didn't rally on Trump's UN speech. I just have to say that the mere fact that...more

Last year's posts for Ask Fleck

Q: Dear Bill,

I thought I had learned how to game the PM markets pretty successfully from reading the Rap off and on since 2000. But based on Ask Fleck comments over the past few days, I appear to be the only idiot that didn't get my positions sold when gold was around $1350 last week...

Fleck: You are overreacting. You can't catch every squiggle, nor can anyone.
(posted: 9/18/2017)

Q: I have a lot of respect for Hugh Hendry. Not talking ideas or views, just his personality and approach. I found this "exit interview" with Bloomberg entertaining. This is a tough business!

Hugh Hendry on Fund Closing, Bonds, Fed Policy

Fleck: Thanks.
(posted: 9/18/2017)

Q: Hi Bill:
what is your opinion on Dr Stephen Leeb PhD?
Thank you

Fleck: I'm not a huge fan, but that opinion was formed in the late 1990s, so he may be quite different now.
(posted: 9/18/2017)

more Ask Fleck...

The bottom's in...