11 September 2019

Stocks and Precious Metals Charts - All Along the Watchtower

"There must be some way out of here
Said the joker to the thief
There's too much confusion
I can't get no relief
Businessmen, they drink my wine
Plowmen dig my earth
None of them along the line
Know what any of it is worth.

No reason to get excited
The thief he kindly spoke
There are many here among us
Who feel that life is but a joke
But you and I, we've been through that
And this is not our fate
So let us not talk falsely now
The hour is getting late."

Bob Dylan

It was another Tweet-olini inspired risk on day as stocks soared in a patriotic response to Trump's announcement that he is considering relaxing some of his sanctions on Iranian oil.

He also said the 'boneheads' at the Fed should be lowering interest rates to zero and below. Because the economy is just that strong.

I still do not regret never having voted for Hillary, or Bill for that matter.

But Trump exceeds all expectations of a truly tragic choice made by a long abused public in their desperation and anger.  One only wonders how much further he will go before he completely and utterly implodes.   Although we are not yet at our LBJ or Nixon moments, we are on our way.

I still don't think Trumpolini will serve out his full term, much less be elected to a second, unless the Dumbocrats run some stiff like Biden or gasp, bring back Hillary.

So many things are yet to be revealed.  But we are certainly finding out a lot about ourselves.

It is interesting that while the VIX was lower and stocks were ramped up towards new highs into a relatively quiet close, gold and silver and the dollar were also higher.

After the bell Oracle announced its earnings a day early with a miss, and disclosed that its CEO is taking a leave of absence for health reasons. But they are using this low interest rate regime to buy back more of their stock.

Nothing has changed. Not one thing.

And WTC7 did not drop in a freefall because of nearby fires.

Our hypocrisy, and capacity for self-delusion, knows no bounds.

Have a pleasant evening.