My thoughts on why FVI popped hard Friday- Friday 11AM EST LBMA & OTC options expired.
- 14 Fed officials are now done that were jawboning all week. This past week IMO was to keep the US dollar strong to get it through Q1, which ended on March 31.
- Miners volume dropped at 2PM EST, which is the same time window dressing begun on the USD till the close. In the morning markets were in sell the dollar mode.
- all silver equities that were pounded heavy (including FR) rallied hard Friday.
- BMO's outperform $9 target
- Fed retreats into the background, next meeting is May & has only a 5% chance of a hike. June is set at 50% currently.