30 October 2020

Stocks and Precious Metals Charts - Whistling Past the Graveyard


Election 2020
“Freud used the term [narcissist] to describe persons who were self-absorbed, and psychoanalysts have focused on the narcissist’s need to bolster his or her self-esteem through grandiose fantasy, exaggerated ambition, exhibitionism, and feelings of entitlement.”

Donald W. Black 


“A narcissist paints a picture of themselves as being the victim or innocent in all aspects.  They will be offended by the truth.” 

Karla Grimes 


“Imagining that you are deep and complex, but others are simple, is one of the primary signs of malignant selfishness.” 

Stefan Molyneux 


"I was being called to surrender the very citadel of my self.  I was completely in the dark.  I did not really know what repentance was or what I was required to repent of.  It was indeed the turning point of my life.  God had brought me to my knees and made me acknowledge my own nothingness, and out of that knowledge I had been reborn.  I was no longer the centre of my life, and therefore I could see God in everything." 

Bede Griffiths 


October is over and stocks went out with a whimper. 

Gold and silver and the Dollar rallied slightly. 

VIX climbed as markets were more volatile, largely from exogenous factors like the national elections and the coronavirus. 

And of course, that the story stocks are priced for fantasy. 

The US national election will be next Tuesday. 

Have a pleasant evening. 


29 October 2020

Stocks and Precious Metals Charts - Wash and Rinse - A Reckoning and Reboot Is Coming, Slowly but Surely

 The GDP number came in (relatively) hot this morning, as expected by everyone.

Stocks were in a ranging mood, finishing to the upside.

Wash and rinse.   As expected.

Same for gold and silver.   

Neither plague nor recessions can stay these Wall Street curs from the swift completion of their appointed shenanigans.

The Big Cap Tech club was coming in with 'beats' on their earnings announcements after the close.

Except for Twitter which missed badly on new active users.

Let's see if the bulls can carry this risk on mood into the election.  I am skeptical.

Physical gold is scraping the bottom of the barrel in Hong Kong Comex. 

Let's see how that situation resolves.

Maybe these price shocks can shake some physical out of the big name gold ETFs.

Have a pleasant evening.

28 October 2020

Stocks and Precious Metals Charts - Chili Today. Hot Tamale? - 3Q GDP Number Tomorrow


"It is not possible to found a lasting power upon injustice, perjury, and treachery.  These may, perhaps, succeed at first, and limp along on hope for awhile with a flourishing appearance.  But time betrays their weakness, and they eventually fall into ruin of their own designs."



"Every century is like every other, and to those who live in it seems worse than all times before it." 

John Henry Newman


"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; they did not believe in plagues." 

Albert Camus 


Reality surfaced once again today, and took the bloated speculative values of some financial assets down in its wake.

Stocks were hammered, going out near the lows.  This was the broadest equity selloff since March.

The purported impetus for this action is the re-imposition of lockdowns and other social measures in Europe to control the resurgence of the coronavirus.

The fear is, of course, that such a thing could occur in the US, despite the recent assurances from the White House that victory over the virus has been achieved. 

Gold and especially silver were hit fairly hard.  

The dollar gained back some ground in the DX index, as a result of weakness in its biggest counter-component the euro.

There was a minor option expiration for the Nov gold contracts on the Comex yesterday.

The levels of physical gold available for demand in Hong Kong in the Comex sanctioned warehouses remains dismal with incremental physical gold going out as quickly as it comes in.  Hmmmm..

 We are likely to get a big positive number for US GDP tomorrow morning.

Let's see how the Street plays it.

That may tell us quite a bit about where we are in this.

Have a pleasant evening.



27 October 2020

Stocks and Precious Metals Charts - A Gasp of Habitual Dip-Buying

"Only the humble believe in Him and rejoice that God is so free and so marvelous that He does wonders where people despair, that He takes what is little and lowly and makes it marvelous.  And that is the wonder of all wonders, that God loves the lowly.  God is not ashamed of the lowliness of human beings.   God marches right in.  He chooses people as his instruments and performs his wonders where one would least expect them.  God is near to lowliness;  He loves the lost, the neglected, the unseemly, the excluded, the weak, and the broken. 

 In the Incarnation the whole human race recovers the dignity of the image of God.  Thereafter, any attack, even on the least of men, is an attack on Christ, who took on the form of man, and in his own Person restored the image of God in all.  Through our relationship with the Incarnation, we recover our true humanity, and at the same time are delivered from that perverse individualism which is the consequence of sin, and recover our solidarity with all mankind." 

Dietrich Bonhoeffer 


"The things that we love tell us what we are." 

Thomas Aquinas


"He has shown you what is good.  The Lord requires you to act justly, and to love kindness and mercy, and to walk humbly with your God." 

 Micah 6:8


Interesting if somewhat sleepy day in the markets.

The VIX was higher, along with gold and silver.

The Dollar was pretty much unchanged.

Big cap techs were in vogue, with the NDX gaining. 

But the rest of the stocks were off a bit in aggregate.

The election is drawing near in the US.  And that means an end to slimy political ads. Yay.

Have a pleasant evening.