08 March 2017

Stocks and Precious Metals Charts - The Vain and the Inglorious

“Two men went to the Temple to pray. One was a Pharisee, and the other was a despised tax collector. The Pharisee stood by himself and prayed: ‘I thank you, God, that I am not a sinner like everyone else. For I don’t cheat, I don’t sin, and I don’t commit adultery. I’m certainly not like that tax collector! I fast twice a week, and I give you a tenth of my income.’

But the tax collector stood at a distance and dared not even lift his eyes to heaven as he prayed. Instead, he beat his chest in sorrow, saying, ‘O God, be merciful to me, for I am a sinner.’

I tell you, this sinner, not the Pharisee, returned home saved in the eyes of God.”

Luke 18:10-14

“A true opium of the people is the belief in nothingness after death, the huge solace, the huge comfort of thinking that for our betrayals, our greed, our cowardice, and our murders, we are not going to be judged.”

Czesław Miłosz

Stocks were mixed today, with big tech attempting to rally while the broader markets were sluggish.

Traders were impressed with the print on new jobs added in a report from ADP this morning. I had thought that ADP was obtaining their numbers from actual data from their payroll services business. Instead I find from reading this article that it has become more of an educated guess in the manner of the BLS imaginary jobs report.

Although VIX volatility (risk) indicator moved higher, gold and silver moved lower in an inverse correlation to the dollar.

I am liking silver here. I will like it quite a bit more if it can hold 17 and rally back from there after this Payrolls and FOMC nonsense is past us.

I hear India has been buying gold again, as a portion of the general phenomenon of Asia buying the hardest, least counterparty contingent currencies known throughout history.

The Beltway Bandits have gone barking mad. Hypocrisy and deception are their meat and potatoes. Of course I think everyone can now see it, but it has been a long time coming. This is what happens when fraud becomes fashionable.

I was so disgusted with the new 'healthcare' proposal from Ryan and the GOP house that I really could not say much yesterday except 'justice is coming.'

Justice is coming. That is an interesting phrase. How we react to it says something about ourselves to ourselves, in how we interpret it. What is just, and who will it affect?

And that may be the most useful thing of all.

Have a pleasant evening.