02 July 2020

Stocks and Precious Metals Charts - The Crazy Train Has Left the Station

"Has he lost his mind?
Can he see or is he blind?
Now the time is here
for Iron Man to spread fear."

Ozzy Osbourne, Iron Man

"As everything in what used to be called creation becomes a commodity, human beings begin to look at one another, and at themselves, in a funny way, and they see price tags. There was a time when people spoke, at least occasionally, of 'inherent worth'— if not of things, then at least of persons."

Harvey Cox, The Market as God

“Evil when we are in its power is not felt as evil, but as a necessity, or even a duty."

Simone Weil

"Thou shalt not sacrifice any of your children to the fires of Moloch, and thereby profane the name of your Lord, who is God."

Leviticus 18:21

Stocks were on a tear higher today after the 'better than expected' US Non-Farm Payrolls report.

Gold and silver withstood the early gut check on the longs, and turned around and headed higher.

I think time is going to tell an interesting story about the quality of the economic data coming from this Administration.

And so the fabulous tech giants reached a new all time high, before retreating a bit in to the close.

The broader market continue to show a striking lack of confirmation.

The SP 500 once again closed below the 'failed rally' resistance level on the futures at 3130.

US Markets will be closed tomorrow in observance of the 4th of the July.

The rest of the world will have to carry on without them.  Might I suggest buying physical gold and silver, in advance of the financial asset carnage that is almost certainly baked into the economic cake?

We are into the peak of the hysteria which we have been describing.  The next few months ought to be quite interesting.

People like to read sites that jolt them, that give them something gloomy and false to wallow in with their sick despair.

This is the result of our indulgent, perverse selfishness.

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

Or not.   It's your choice.

Have a pleasant weekend.