05 February 2020

Stocks and Precious Metals Charts - Weighed, and Found Wanting - Non-Farm Payrolls Report on Friday


"Nemesis, the goddess of retribution and vengeance, the punisher of pride and hubris, waits impatiently for her meeting with us."

Chalmers Johnson


"The Capitol 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, the dog of the underworld, though resembling your speeches, will be less offensive to me, for I have never been associated with Cerberus, and I need not be ashamed of his howling."

Titus Petronius, Last Letter to Nero


"When a man takes an oath, he is holding his own self in his own hands, like water.  And if he opens his fingers then, he need not hope to find himself again."

Thomas More


“Religion used to be the opium of the people.  To those suffering humiliation, pain, illness, and serfdom, religion promised the reward of an after life.  But now we are witnessing a transformation: 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, our murders, that we are not going to be judged.”

Czeslaw Milosz, The Discreet Charm of Nihilism

Stocks were in rally mode this morning on the false rumour that China is close to finding a cure for the coronavirus.

The safe havens were hit early, but managed to come back a bit.

After the bell the Senate held its vote on the two charges in the impeachment of Trump: abuse of power and obstruction of justice.

Trump was acquitted in a vote that was strictly along party lines, except for the vote to convict of abuse of power by Senator Mitt Romney.

There will be the Non-Farm Payrolls report on Friday.

Have a pleasant evening.