When an asset trades in a double digit percentage range within a day, I tend to take notice. The central bankers might have (temporarily) extinguished all volatility in the equity markets, but they certainly seemed to ignite fires in the commodity markets with silver being the recent spastic asset:
I heard someone say that the drop in silver/gold is a rotation out of those asset classes and into equities because faith has been restored in the markets and global economy. I find that statement comical.
It is often the case that we witness volatile prices in different asset classes before something bad happens. Just how long can the game of musical chairs continue, that is the market timer’s question.