15 September 2020

Stocks and Precious Metals Charts - Bonfires and Vanities - FOMC Tomorrow

“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

“Through pride we are ever deceiving ourselves.  But deep down below the surface of the average conscience a still, small voice says to us, something is out of tune."

Carl Jung

"He prompts you what to say, and then listens to you, and praises you, and encourages you.  He bids you mount aloft.  He shows you how to become as gods.  Then he laughs and jokes with you, and gets intimate with you; he takes your hand, and gets his fingers between yours, and grasps them, and then you are his."

John Henry Newman

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

FOMC tomorrow.

Quad witch option expiration on Friday.

Keep your eyes open. Things are progressing faster than one might have expected.
We are well into the hysteria.  And now and then, with a touch of defiant madness, anger, and pride.

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.