02 February 2023

Stocks and Precious Metals Charts - And the Beat Goes On - 'Technical Trades'


"When you view the world from the satisfied environs of Washington — a place where lawyers outnumber machinists 27 to 1 and where five suburban counties rank among the seven wealthiest in the nation — the fantasies of postindustrial liberalism make perfect sense. The reign of the 'knowledge workers' seems noble.

Seen from almost anywhere else, however, these are lousy times. The latest data confirms that as the productivity of workers has increased, the ones reaping the benefits are stockholders. Census data tells us that the only reason family income is keeping up with inflation is that more family members are working.

Everything I have written about in this space points to the same conclusion: Democratic leaders must learn to talk about class issues again. But they won’t on their own. So pressure must come from traditional liberal constituencies and the grass roots, like the much-vilified bloggers...

The more comfortable option for Democrats is to maintain their present course, gaming out each election with political science and a little triangulation magic, their relevance slowly ebbing as memories of the middle-class republic fade."

Thomas Frank, Rendezvous With Oblivion, NYT 2006

The Dollar was up 55 cents.

The VIX rose showing some risk concerns.

Gold and silver were utterly smacked from the word go.

Stocks rallied madly to new short term highs. 

Nothing really new about all this.

Let's call it 'technical trades.'

I had hedged my trading portfolio in anticipation of this sort of predictable shenanigans.

The only real surprise today was the clip of Cathie Wood extolling the safe harbor attributes of bitcoin.

Non-Farm Payrolls tomorrow.

Have a pleasant evening. 

01 February 2023

Stocks and Precious Metals Charts - Central Banks Buy Most Gold Since 1967


“It is difficult to get a man to understand something, when his salary depends on his not understanding it.”

Upton Sinclair

"It is important to bear this in mind, because it tends to knock down the assertion that the current financial crisis is somehow an act of God, something that just happened.  There was an intent to subvert the regulatory process, to increase leverage beyond what has long been known to be prudent, and to engage in systemic fraud with a group of enables and agencies, such as the ratings firms, in order to reap fabulous personal profits for a small group at the expense of the many. 

There was planning, premeditation, malice aforethought. They may not have intended to harm; they just did not care. They really truly did not care, if they got theirs.  Until the banks are restrained, and the financial system reform, and balance restored to the economy, there will be no sustained recovery.

And there can be no better start than to stop the gambling with the public money that is the core of the existing US banking system.  The parallels with organized crime and the subversion of the public interest through graft and corruption are compelling.  And one thing we must accept is that the financiers will never be able to reform themselves, to regulate themselves, to even tell the truth overmuch about regulation while they are still 'in the game.'  It goes against their very nature, their creed, the rules of their profession. They keep what they kill, and everything that is not theirs is fair game."

Jesse, Restoring Glass-Steagall, 28 October 2009

"Successful crime is dignified with the name of virtue; the good become the slaves of the wicked; might makes right; fear silences the power of the law."

Lucius Annaeus Seneca

“Those entrapped by the herd instinct are drowned in the deluges of history.  But there are always the few who observe, reason, and take precautions, and thus escape the flood.  For these few gold has been the asset of last resort.”

Antony C. Sutton

Just another day in the Pax-American Metaverse.

The FOMC raised interest rates the expected 25 bps.

And in the end Wall Street read this as dovish, and rallied to beat the band, going out near the highs.

The NDX set a new 'third high.'  

The SP 500 was lagging and failed to set a new high.

The Meta stock was soaring after hours dye to 'not as bad' as expected results.

The Dollar slumped hard.

Gold and silver rocketed higher.

While stocks were soaring the Metaverse, back in the real world:  Central Banks Buy the Most Gold since 1967  

And the times, they are a-changing.

Why didn't the spokesmodels, chief strategists, breathless Mahoneys, and sock puppets talk about this historic development, which has been slowly unfolding since before 2009??

Yeah, buddy...

Non-Farm Payrolls on Friday.

Let's see if bully can keep it up.

With these jokers its always easy come, easy go.

Have a pleasant evening.


31 January 2023

Stocks and Precious Metals Charts - Walk in darkness and trust in the light of the Lord


"We are sinners, attempting great things.  Love is our benchmark, our touchstone.  It is how we are able to know if what we say or do or hold dear is founded in goodness and life, or in a destructive snare, a willfulness, the cult of the self, and death.  Love takes us out of ourselves and completes us.  The opposite of love is not hatred, but the selfishness of self-love, and the dark angel's first sin, pride."

Jesse, 2 December 2012

“I think that the depth of Satan's pride is difficult for humans to understand, and therefore it is easy to fall into this error and partake of it, thinking, all the while, that we are instead doing something great and beautiful.”

Fyodor Dostoyevsky

“Man has places in his heart which do not yet exist— and into them enters suffering, in order that they may have life.”

Léon Bloy

"Suffering is a means by which God saves us, afflicting us so we do not lapse into vain self-sufficiency, a pride and a perverse individualism that gathers us blindly into ourselves, and separates us from His own.   To suffer is how we grow in humility, and conform ourselves to do what He commands, rather than as we may will.

Prayer is how we sustain ourselves in times of both suffering and joy, with humility in this life, as we resort not only to ourselves or to the world, but to all things with God.  And so we find comfort in His will, and the conversations that we keep with His many tender mercies.   The world can not see this, and in not seeing does not understand.   To the world we are fools.

His consolations and comforts are hidden, delivered to us in quiet moments, heart to heart.  And so He gathers us together to Himself, and keeps us safe, and slowly takes us from this world and the dark powers therein, that search endlessly for souls to make their own, and to devour."

Jesse, 15 May 2018

 Stocks rallied today in a risk on rally founded on wash and rinse serendipity.

The FOMC rate decision and accompanying verbiage is tomorrow and will likely drive the market. 

The Dollar ticked lower.

Gold and silver were higher.

The VIX fell.

A risk on day most likely with nothing much behind it than the usual

Let's see what Joltin' Jay and his Merry Pranksters at the Fed have to say for themselves tomorrow.

Have a pleasant evening.