16 January 2019

Stocks and Precious Metals Charts - The Last Refuge of Scoundrels

“Not everyone who says to me, ‘Lord, Lord,’ will enter the kingdom of heaven, but the one who does the will of my Father who is in heaven."

Matthew 7:21

Stocks were attempting to rally again today, led by the SP500 futures, but gave up much of their gains into the close.

Gold and silver were up a bit, but still remain within a short term trading range, caught below overhead resistance and underlying support.

Individual company earnings reports are driving much of the stock action now.

The marcoeconomic results are still rather lackluster despite the 'enthusiasm' of Wall Street when it is convenient for their ends.

It is noticeable how often some sites seek to stir up outrage and indignation, making big things out of little ones, distorting and amplifying issues and events to keep people from thinking clearly and rationally, filled with hate and fear and contempt for each other.

Lies roll all too easily off the lips of this self-loving, hard-hearted generation.

Be as careful what you may put into your minds, as you would the quality of food and water in your mouths.

Have a pleasant evening.

15 January 2019

Stock Market and Precious Metals Charts - No Exit For Brexit - Bubblicious Disregard for Risks

British PM Theresa May's Brexit proposal went down to an historic defeat in Parliament today.

There will be a no confidence vot tomorrow but that seems largely perfunctory. No one wishes to sit in that hot seat, and there is a remarkable lack of popular counter-proposals to her plan.

There will be additional deliberations and votes this week. Hopefully the bickering and posturing will be put aside. The best part of the debates after the vote today was the amiable wit of the speaker of the House of Commons, John Bercow. 

Stocks managed to go out on the highs as signs of a dovish pause in US interest rate increases seemed to be in the air, especially based on commented by the Kansas City Fed's Esther George.

Seemingly at odds to this, the US Dollar moved higher, while gold and silver were commensurately off a bit.

There will be a stock markeet option expiration on Friday.  Let's see if the bubbly optimism of stocks will carry through until then.

We will be getting more individual company financial results now that we are in the reporting period again.   These may help to sway the markets in some direction, or not.

The market seemed to be shrugging off the results being shown by the financials thus far.

Mispricing risk is the new normal, apparently.   The assumption is that the stock market is now in hand and will be fine—  unless something startles it.

Have a pleasant evening.

14 January 2019

Stocks and Precious Metals Charts - Setting the Stage - NEM Buying GG

Stocks opened lower today, amid risk concerns about the global economy.

Gold and silver moved slightly higher as the Dollar index was off a bit.

Stocks managed to come off the lows, and finished the afternoon trade just slightly lower.

Let's see if the equity markets are going to try and roll over here, or not.

As we enter earnings season the focus will start moving a bit more towards individual stocks.

Newmont Mining announced their intent to acquire Goldcorp to form one of the world's largest mining companies.

As the metals move higher expect more volatility and consolidation in the mining complex.

There will be a stock market option expiration on Friday.

Have a pleasant evening.

13 January 2019

Annual Physical Gold and Silver Holdings In Trusts and Funds

"Gold has worked down from Alexander's time... When something holds good for two thousand years I do not believe it can be so because of prejudice or mistaken theory."

Bernard M. Baruch