21 October 2016

Gold Daily and Silver Weekly Charts - All For One, And None For You

"But there is a sort of  'Ok guys, you're mad, but how are you going to stop me' mentality at the top."

Robert Johnson, Audacious Oligarchy

The US dollar continued powering higher today, which is not good at all for the real economy but certainly serves the global purposes of the financial class.

Gold and silver held their own against this, and a continuing decline in stock market volatility as measured by the VIX.

The deliveries were notable only for gold, as Macquarie continued to offer up their house account gold claim checks position, taken up largely by the bullion bank Nova Scotia and the 'mystery customer' at JPM.

Macquarie certainly painted a big target on their back with that position taken on the Comex.  If I were of a mind to acquire gold I probably would not do it at that venue, even for a trading position.  But that's just my opinion, and I could be wrong.

The last two days were taken up with my exploration of the mysterious ways of the US car makers.  They are not quite at outrageous as the financial and health sectors, but they are working on it.  It seems as though we are entering some phase of peak corporatism from the oligarchy grown increasingly audacious.

The punters are betting that Hillary will be the next President, and the media has certainly come to bury Trump.  I am mulling over what that might mean for investment strategies.   She certainly 'knows the ropes,' but the big issue is what are her priorities?  Mussolini made the trains run on time, but he was truly a swine for all intents and purposes, more than most people realize.

I don't like to assume the worst, and like to give a new President at least a month or so to tip their hand with their appointments, especially in the economic and financial areas, but it seems that recently assuming the worst has not been that bad of a bet if you are not in the ruling elite.

Have a pleasant weekend.

SP 500 and NDX Futures Daily Charts - GE Outlook On Economy Chills the Markets

The depreciating Yuan and GE's comments on the economic outlook from its perspective put a chill on equities this morning.

However, the bubbleers were not daunted, and managed to shake off the major global risks *again* with the volatility measure VIX continuing to drop.

Equities were back up to pretty much unchanged at the close.

All is well in the Pax Americana.

Deals with companies buying other companies tends to dominate the news, along with new era 'unicorns' that are priced to fantasy. Does this remind you of the near top of the tech bubble back in 2001? It does remind me of that.

Advance 3Q GDP next week might give us a better perspective on things.

But for now we are into the trough of the silly season in this Presidential election, and the news media is spinning some otherworldly visions for its patrons.

At least we have baseball. lol

Have a pleasant evening.

20 October 2016

19 October 2016

Gold Daily and Silver Weekly Charts - The Lid Is Still On the Metals

The metals showed a little more action this morning, but the lid stayed firmly on the kettle.

Let's hope it does not make a mess when it boils over.

They'll never learn.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Sailor Moon

US equities are floating on a sea of liquidity and a gross mispricing of risks.

Not to mention an exceptional sense of privilege and dare I say, arrogance, in the financial class.

Have a pleasant evening.

18 October 2016

Gold Daily and Silver Weekly Charts - We Come In Peace

"The wealth of another region excites their greed; and if it is weak, their lust for power as well. Nothing from the rising to the setting of the sun is enough for them. Among all others only they are compelled to attack the poor as well as the rich. Robbery, rape, and slaughter they falsely call empire; and where they make a desert, they call it peace."

Tacitus, Agricola

"When the rich wage war, it is the poor who die."

Jean-Paul Sartre, The Devil and the Good Lord

Gold and silver look to be 'pegged' around these levels for now.

There was little clearing activity yesterday on the Comex, and the warehouses were a snooze as well.

The dollar lost a bit today, but regained it back.

Gold and silver are chopping sideways now, as can easily be seen on the chart.

They will resolve this impasse at some point.

Let's see which way that they go.

The mispricing of risk is like karma;  it comes back around when you least expect it.

Have a pleasant evening.