Watching these images of the Boston Marathon explosions is heart-wrenching and sickening. I can tell you from having lived firsthand through 9/11 from Ground Zero itself, that all of the news and reports you are getting out of the mainstream media and news sites are PR at best, as nobody has any idea what exactly has happened or why or, most pressing, if there are going to be follow-on disasters ala 9/11.

First I want to say my prayers go out to everybody affected by this.

I hate having to think or write about what this means to our portfolios, but that is my job and I will do my job.

The analysis then, is that this BM explosion coming right on top of the wild crash in gold and silver today coming on top of the market action being already at all-time highs is scary and bearish. I’m not making any changes to the portfolio as a result of this tragedy as I have already been preparing for a downturn at least for the near-term here. I think the path of least resistance is down and probably slippery right now.

God bless.