The Continuing Crisis

It's finally Comex option expiration day and, predictably, prices are down and very near the targets we laid out six days ago.

And, look, that shouldn't come as any surprise and I don't deserve any accolades or medals. Being able to forecast price off of option open interest is something anyone can do. All I have is over a decade of hard-earned experience watching this crap. It doesn't work ALL of the time and there are some expiries where real world events prevent The Banks from managing price directly into the sweet spot. April 2023 will go down as NOT one of those months as...