23 April 2019

Stocks and Precious Metals Charts - Bubble 'n' Squeak - Comex Expiry Action in the Metals

Weighed, and Found Wanting...
“An enthusiastic philosopher, of whose name we are not informed, had constructed a very satisfactory theory on some subject or other, and was not a little proud of it. 'But the facts, my dear fellow,' said his friend, 'the facts do not agree with your theory.'

'Don't they?' replied the philosopher, shrugging his shoulders, 'then, tant pis pour les faits' — so much the worse for the facts!”

Charles Mackay

"Our little systems have their day;
They have their day and cease to be:
They are but broken lights of thee,
And thou, O Lord, art more than they."

Alfred Lord Tennyson, In Memoriam

"A shudder in the loins engenders there
The broken wall, the burning roof and tower
And Agamemnon dead."

W. B. Yeats, Leda and the Swan

“Any moment might be our last.  Everything is more beautiful because we're doomed.  
You will never be lovelier than you are now.  We will never be here again.”

Homer, The Iliad

"Surely, there is at this day a confederacy of evil, marshalling its hosts from all parts of the world, organizing itself, taking its measures, enclosing the church of Christ as in a net, and preparing the way for a general apostasy from it.   Whether this very apostasy is to give birth to Antichrist, or whether he is still to be delayed, we cannot know; but at any rate this apostasy, and all its tokens, and instruments, are of the Evil One and savour of death."

John Henry Newman, The Times of Antichrist

Gold got hit today, as is befitting of an option expiration in our loosely regulated markets.

The Dollar closed higher.

Stocks are hitting new highs.

Never short a stock or stock index just because it has moved higher.

Keep your eyes open though. Things are progressing faster than one might have expected.

Perhaps now is the time to take some profits as one may have them in equities, and redeploy them in safe havens, including cash.

The bubble is frothing.

And so is Trumpolini.

Neither is likely to end well.

Have a pleasant evening.