Stocks and Precious Metals Charts - And the Darkness Has Not Overcome It

 

"The people who walked in darkness have seen a great light; those who dwelt in a land of deep darkness, on them a light has shined."

Isaiah 9:1

"Let the children have their night of fun and laughter.  Let the gifts of Father Christmas delight their play.  Let us grown-ups share to the full in their unstinted pleasures before we turn again to the stern task and the formidable years that lie before us, resolved that, by our sacrifice and daring, these same children shall not be robbed of their inheritance or denied their right to live in a free and decent world.  And so, in God’s mercy, a happy Christmas to you all."

Winston Churchill, Christmas radio address, December 1941

"Gratitude can transform common days into thanksgivings, turn routine jobs into joy, and change ordinary opportunities into blessings."

William Arthur Ward

“Happy, happy Christmas, that can win us back to the delusions of our childish days; that can recall to the old man the pleasures of his youth; that can transport the sailor and the traveler, thousands of miles away, back to his own fire-side and his quiet home! I will honor Christmas in my heart, and try to keep it all the year.”

Charles Dickens, The Pickwick Papers,

Christmas is more than a time of joy and gift-giving and receiving presents. It is a time to recall our blessings and to gain strength in the grace and bosom of our families.  And above all it is a time to remember that greatest, almost incomprehensible gift in all history, how our Lord made himself as us, and as we are of him, and came to us in the flesh, the incarnation of selfless love.

And thereby those of us who are no longer present in body at the Christmas hearth may still be there in spirit with us, as we will some day be with them. What greater gift could we possibly desire to receive, than the ability to do good, to persevere in love, and to thereby live in the love of those for whom we care and who care for us, always?  Love is too often clumsy, and turns back on us when we serve it out of selfish expectations.  But if we serve it in its true Christmas spirit, for the right reasons, then it will light a fire in our hearts."

Jesse, 16 December 2015

"What came to be through him was life, and this life was the light of the human race.  The light shines in the darkness, and the darkness has not overcome it."

John 1:3-5

And that, ladies and gentlemen, is what a triple witch option expiration in December looks like.

Gold and silver likely put in some bottoms here.

The Dollar backed off sharply from its recent peak into the 108's.

VIX dropped like a rock.

And so here we are, sliding into the end of another year of the oligarchy.

We had our first snowfall of the season today.

I wonder what new false flags and wars of opportunity are still waiting to come to fruition. 

But the light of the world is here among us, and the darkness has not overcome it.

Have a pleasant weekend.

Stocks and Precious Metals Charts - All the King's Horses, and All the King's Men

 

"When a war breaks out, people say: 'It's too stupid; it can't last long.'  But though a war may well be 'too stupid,' that doesn't prevent it from lasting.  Foolishness has a knack of getting its way; as we should see if we were not always so much wrapped up in ourselves.  In this respect our townsfolk were like everybody else, wrapped up in themselves; in other words they were exceptional humans: they did not believe in plagues.

A bubonic plague is not made to fit in a man's mind; therefore we tell ourselves that plagues are a mere bogey of the mind, a bad dream that will pass away.  But it doesn't always pass away and, from one bad dream to another, it is men who pass away, and the exceptional first of all, because they haven't taken their precautions.

Our townsfolk were not more to blame than others; they forgot to be human, that was all, and thought that everything still was possible for them; which presupposed that plagues were impossible.  They went on doing business, arranged for journeys, and formed views.  How could they have given a thought to anything like a plague, which rules out any future, cancels journeys, silences the exchange of views.  They fancied themselves free, and no one will ever be free so long as there are plagues."

Albert Camus, The Plague, 1947

"One should comfort the afflicted, but also one should afflict the comfortable, especially when they are comfortably, contentedly, even happily wrong."

John Kenneth Galbraith, Observer, 30 July 1989

"The foolish ask nothing better than not to have to understand anything, and they even used to get together and try not to understand, because the last thing of which a person is capable is to be malicious and foolish all by themselves. Without understanding, they form spontaneously into herds, not according to any particular affinities but in obedience to the petty ideology, which swallowed up the whole of their small lives, allotted them by birth or chance. They would far rather kill than have to think."

George Bernanos, Under the Sun of Satan, 1926

Wonderful how easily deluded we may become when it suits us.

As a reminded the December stock market option expiration is tomorrow.

Gold managed to hold its ground today as the Dollar drifted a little higher, taking on the 108 handle.

Silver, not so much.  It tends to slump with the equity risk markets.

Stocks tried to bounce after the big slide yesterday, but alas, as the day wore on they gave it all back and finished once more in the red.

Speaking of dreams and delusions, Bitcoin has given up the 100k handle and finished quite a bit lower again today.

One of the more satisfying short positions for all its contrariness. And it did pair nicely with a NDX short.  But in delusional markets awash with lawlessness one does not tarry long on the bearish side, unless it's the big one Elizabeth.  Probably too soon, but we remain alert to the possibilities.

The markets are sliding into the end of the year which is a tough time to trade given the amount of portfolio jockeying and thin trading volumes that invite the goon squads to throw their weight around.

Do not be deceived, for God is not mocked.  What men sow, so shall they reap. 

We rationalize and delude ourselves. We choose what to believe, and the facts be damned.  Not because we don't know better, but because we have become proud, and forgotten who we are, and think that we can, without consequences.

Have a pleasant evening.

 

Stocks and Precious Metals Charts - Pop Go the Weasels

 

Here's what Grok has to say about my December 16th post on X warning of a bubble in market valuations which is pictured on the right:

Market Sentiment: The post indicates a cautious view on the current market conditions, suggesting that the market might be overvalued ("toppy") but expects some manipulation or positive portrayal ("paint the tape") towards the year's end. This reflects a common practice in financial markets where end-of-year performance might be artificially boosted.

Cultural Reference: The image used in the post references the character "The Mask" from the movie of the same name, known for his chaotic and exaggerated behavior, symbolizing the unpredictable and possibly reckless nature of market movements at this time.

Economic Context: The mention of market manipulation or artificial market support can be linked to historical practices like those seen during the Wall Street crash of 1929, where market manipulation was part of the broader economic events leading up to the Great Depression.

These AI things are mostly obvious plagiarists, but they do draw nice pictures sometimes.  But people tend to give it some credibility.   Maybe you will listen to it.

Here in the second picture on the right is what I posted earlier today before the FOMC meeting.  I was getting ready for a surprise.  I wasn't sure how big a surprise because I did not know the extent of the 'trigger event.'

I suspect that today is going to be more of a standalone event, with perhaps a day or two of aftermath that eventually finds a footing.

Once the wiseguys have their portfolios squared up they can go back to building something reportable for their year end results.

Why did stocks fall so sharply?  The valuations were so stretched that it took very little to set off the correction.   

What the Fed did and said today was utterly obvious to anyone watching what is going on, and thinking for themselves.

They did their 25 basis point cut, and affirmed their firmer stance on future cuts because of persistent inflation.  

I had some significant short positions built up in the equity assets over the past two days, and I made some money.  My PM related longs were on the slimmed down, but what there was got thoroughly toasted. According to plan I added some of the usual suspects in the afternoon today.  There were some fire sale items of interest for the longer term.  There will be time to add more. Slowly goes it.  And hedged.  

A geopolitical event will make some obvious Fed related temper tantrum look pale by comparison.

More gold left the Hong Kong warehouses yesterday.   Gold is flowing from West to East. 

As a reminder there will be a stock market option expiration on Friday.  This was most likely a wash and rinse for year end.

Things do eventually make sense.   It's just that the liars and those who fall for their lies can be ardent and persuasive, and very, very loud.

But if there is a message in this, it is that these financial things mean relatively little compared to the bigger traps and lies that are being told about theft, wholesale murder and wars of aggression.  It's almost astonishing, and it could be getting worse before it gets better.

“Just as it was in the days of Noah, so will it be with the coming of the Son of Man.  People were eating, drinking, marrying and being given away in marriage, up until the very day that Noah entered the ark.  Then the flood came, and swept them all away.   And they said to him, 'Where will this happen, Lord?'  And He said to them, 'Where death is, there will be a gathering of vultures.'”

Luke 17:26-27, 37

Things can be replaced.  Your soul can't.

Have a pleasant evening.

Stocks and Precious Metals Charts - Gold Checks Out of the Hong Kong Hotel

 

"Those who are at present so eager to be reconciled with the world at any price must take care not to be reconciled with it under this particular aspect: as the nest of The Unspeakable.  This is what too few are willing to see.  

Be human in this most inhuman of ages; guard the image of man for it is the image of God.  You agree?  Good.  Then go with my blessing.  But I warn you, do not expect to make many friends."

Thomas Merton, Raids on the Unspeakable

“Who shall resist Anti-Christ when he comes if we show such patience towards the vices and crimes of his precursors? By such leniency, we encourage kings to become tyrants."

Thomas a Becket, December 29, 1170

"From the least to the greatest, they are greedy for unjust gains; and from prophet to priest they all deal falsely.  They have treated the suffering of my people carelessly, saying, ‘all is well’ when there is no safety.  They act shamefully, they commit terrible offenses; and yet they are not ashamed, and do not even know how to blush.  Therefore they shall fall among those who are fallen."

Jeremiah 6:13-15

"For what shall it profit a man, if he gains the whole world, and loses his soul?"

Mark 8:36


A pretty big chunk of gold bullion decided to check out of the CME affiliated Hong Kong warehouses yesterday.

Thank you sir, may they have another?

That would be interesting. 

Stand and deliver.

The Dollar was up a few cents.

Stocks took a decline after the big bubblicious rally.  Still very in keeping as a correction.

VIX rose to its 200 DMA.

Gold and silver took a boogeyman hit, and then bounced back into the close.

The FOMC meeting is tomorrow.  They are likely to just cut 25 basis points.

The Street will focus on what they say in their writings and plots, and then what Slipping' Jay says in his press conference.

"The rich man said, ‘No, Father Abraham!   But if someone is sent to them from the dead, then they will repent of their sins and turn to God.’  But Abraham said, ‘If they won’t listen to Moses and the prophets, they will not be persuaded, even if someone rises from the dead.’”

Luke 16:19-31

Have a pleasant evening.

Stocks and Precious Metals Charts - Awful Faces From Beyond

 

“A nation can survive its fools, and even the ambitious.  But it cannot survive treason from within.  An enemy at the gates is less formidable, for he is known and carries his banner openly.  But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself.

For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men.  He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist.”

Marcus Tullius Cicero, Orationum

“Capitalism is at risk of failing today not because we are running out of innovations, or because markets are failing to inspire private actions, but because we’ve lost sight of the operational failings of unfettered gluttony.  We are neglecting a torrent of market failures in infrastructure, finance, and the environment.  We are turning our backs on a grotesque worsening of income inequality and willfully continuing to slash social benefits.  We are destroying the Earth as if we are indeed the last generation.”

Jeffrey Sachs, Self-Interest, Without Morals, Leads to Self-Destruction, Financial Times, 18 January 2012

Demagogues are willing to do or say anything to gain office or to consolidate their power.  Unconstrained by ideology, they have no concern for the consequences of their actions.  Anything that serves to make them more powerful is good enough for them — even if the political system that facilitated their rise should be destroyed in the process."

Daniel Ziblatt, Saving Democracy from Demagogues, 2022

"The barbarian hopes — and that is the mark of him, that he can have his cake and eat it too.  He will consume what civilization has slowly produced after generations of selection and effort, but he will not be at pains to replace such goods, nor indeed has he a comprehension of the virtue that has brought them into being.  We sit by and watch the barbarian.  We tolerate him in the long stretches of peace, we are not afraid.  We are tickled by his irreverence; his comic inversion of our old certitudes; we laugh.  But as we laugh we are watched by large and awful faces from beyond, and on these faces there are no smiles.”

Hilaire Belloc, The Barbarians, 1912

As the trading year draws to a close, the paint to make the results (and bonuses) for the Wall Street wiseguys will be applied liberally to the tape.

The economic hitmen have come home to roost.

Stocks rallied to new highs.

The Dollar chopped sideways with a bit of a little loss.

VIX rose, even with stocks rallying.

Gold and silver did very little.

FOMC coming up on Wednesday.

Syria is overcome, and being carved up by the US, Turkey, and Israel.

That which is unsustainable will not be sustained.

And where they make a desert, they call it peace.

Have a pleasant evening.