01 May 2018

Stocks and Precious Metals Charts - Apple After the Bell - FOMC Tomorrow

Mammon and His Slave
"The devil led him to the top of a very high mountain, and revealed to him all the kingdoms of the world, arrayed throughout in their vast material splendors. And the devil said to him, 'All of these, with their mighty power and awesome wealth, I will give to you, if you will only fall down and worship me.' And Jesus said, 'Get behind me, Satan, for it is written, ‘Worship the Lord your God, and him only will you serve.’ Then the devil left, and angels came to comfort him."

Matthew 4:8-11

Apple is reporting its numbers after the bell, along with a few other tech stocks like Snapchat. Apple has apparently beaten its numbers, and is offering some additional monies for stock buybacks and dividends. Snapchat was getting spanked.

Stocks were weak in the morning, but rallied into the afternoon and the close.

Gold and silver were weak on continuing Dollar strength.

Tomorrow afternoon we will hear the results of the two day FOMC meeting. The Fed is expected to do nothing at this meeting except change some verbage.

There is a record short position in US Treasuries, no doubt from punters betting on the continuing upward push in interest rates, and the corresponding decline in Treasuries prices.

When that many punters lean into one side of a trade you might expect the insiders to give them a gut check, with two for flinching.

Short term the US Dollar is very overbought. Depending on what the Fed says and does tomorrow that could become the basis for some retrenchment.

I spent a pleasant afternoon checking out the new E series of John Deere Lawn Tractors and finally bought one.  I am too knackered to keep mowing the yard with the walk behind.  My knee is going to take another couple of months to finally heal from the wrestling match I had this past winter with a fallen tree.

Owning a small plot of land and caring for it, maintaining it as a place of tranquil order and peaceful beauty, is one of life's simple but finer pleasures. 

The world of the fallen will not love you, or sustain your heart.  It will strip your soul bare of happiness and contentment, and devour you.  But God resides in an ordered garden, and delights there with the simplest and most humble of His creatures.

Have a pleasant evening.