26 May 2020

Stocks and Precious Metals Charts - Another Comex Options Expiration - Bluster and Bravado

"Another toast to Citizens United, gentlemen?"
"It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes."

Andrew Jackson, On the Second Bank of the United States

"Jim, lad, there be consequences an' then there be consequences. Devil take 'em all, says I, and pass aft the rum."

Robert Louis Stevenson, Treasure Island

It was a risk on day today, with the prospects for risky assets rising higher on a wave of hot air.

The NDX was a huge non-confirmation of this latest rally, as the futures actually finished unchanged. The SP futures did better but still gave up much of their gains.

Gold was hit hard as expected for a key futures month in option expiration. Silver gave up its gains and finished in the red as well.

The Dollar was lower.

Today was an excellent example of the deep and cynical corruption of the financial system, overfunded and underregulated.

Let's see how the rest of the week goes.

The young man is back from England, working from home now at his new job. He is in two weeks quarantine here. I bought the supplies today for a small garden, so he can fulfill his new interests in that regard in addition to his technical work.

We always had a modest garden, but over the past years had taken it down and returned it to the lawn.

As Cicero noted, 'if you have a garden and a library, you have everything you need.'

Have a pleasant evening.