27 June 2018

Stocks and Precious Metals Charts - Seneca at the Court of Nero

"Rome stuffs its ears when it hears you; the world reviles you.  I can blush for you no longer, and I have no wish to do so.  The howls of Cerberus, though resembling your music, will be less offensive to me, for I have never been the friend of Cerberus, and I need not be ashamed of his howling.  Farewell, but make no music; commit murder, but write no verses; poison people, but dance not; be an incendiary, but play not on a cithara. This is the wish and the last friendly counsel sent you by the — Arbiter Elegantiae."

Henryk Sienkiewicz, Quo Vadis, Last Letter from Petronius to Nero

"Seneca had made the bargain that many good men have made when agreeing to aid bad regimes.  On the one hand, their presence strengthens the regime and helps it endure. But their moral influence may also improve the regime's behavior or save the lives of its enemies.  For many, this has been a bargain worth making, even if it has cost them—as it may have cost Seneca—their immortal soul...

The Rome he has been trained to serve, the Rome of Augustus and Germanicus, was gone.   In its place stood Neropolis, ruled by a megalomaniac brat.”

James Romm,  Dying Every Day: Seneca at the Court of Nero

Stocks attempted to add to the rally, but failed in the afternoon and went out on the lows.

Perhaps a little more downside is warranted, but one might think that if this is a usual retracement it will find its completion quite soon.

However, there is the possibility that the decline may continue on. And if so, we may find ourselves breaking new ground to the downside, and opening up different possibilities.  And since this depends upon what new antics the man-child in the Oval office may unleash, its probability is difficult to assess.

And that significant uncertainty is the very definition of risk.

Gold and silver continued their disappointing performance in this day after the option expiration. Let's see if they can find a footing here on support.

I spent the day taking care of some work outside, and watching some of the games from the World Cup.  My Greek attorney noted that there has been a record set for 'own goals' at this World Cup, meaning goals inadvertently assisted by a defending player on his own goal. He thought that this might be symbolic of the state of our country, the US, at this time—  that is, beating itself.

While that is an insightful and subtle observation, as those of his profession are often inclined to do, I remarked that perhaps it is even more telling about the state of our America that we are not there, and the rest of the world does not seem to mind it at all.

Need little, want less, and love more. For those who abide in love abide in God, and God in them.

Have a pleasant evening.

Manuel Domínguez Sánchez, The Death of Seneca