01 October 2020

Stocks and Precious Metals Charts - Salvation and Sorrow - Non-Farm Payrolls Tomorrow

"They have treated the suffering of my people carelessly, saying, ‘all is well’ when there is no safety.  They act shamefully, they commit terrible offenses; and yet they are not ashamed, and do not even know how to blush.  They shall be found among those who are fallen." 

Jeremiah 6:14-15 

 "The rich man replied, ‘If someone is sent to them from the dead, then they will repent of their sins and turn to God.’  But Abraham said, ‘If they won’t listen to Moses and the prophets, they will not be persuaded, even if someone rises from the dead.’” 

Luke 16:30-31 

"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 

"The selfishness of an age that has devoted itself to the mere cult of pleasure has tainted the whole human race with an error that makes all our acts more or less lies against God.  It is better to find God on the threshold of despair than to risk our lives in a complacency that has never felt the need of forgiveness.   

Despair is the absolute extreme of self-love.  It is reached when a person deliberately turns his back on all help from anyone else in order to taste the rotten luxury of knowing himself to be lost.   It is therefore of supreme importance that we consent to live not for ourselves but for others." 

Thomas Merton 

 “Each day we are becoming a creature of splendid glory, or one of unthinkable horror.” 

 C. S. Lewis


Stocks rallied again today, led higher by big cap techs, with some surprising strength in the broader midcaps thanks to some speculations.

Gold and silver were higher, coming off a bit from the peak of their rallies.

Gold and silver both have some serious overhead resistance overhead before I might feel good about putting up a more substantial short term trading position.

Let's see how the metals and stocks fare after tomorrow's Non-Farm Payrolls report.

We are in a time of hysteria  and excess emotionalism, more than usual, as I cautioned years ago in my long term forecast.

We may reach a crescendo in this over the next 12 months or so.  The big changes occur slowly, then all at once.

The Dollar edged a bit lower.

If Brexit takes a toll on the Pound, the Dollar Index may benefit.  But the Euro remains the highest weight in the index by far.

We love our lies, and find our comfort in them.   And so we serve them, cherish them.  Complacent fools, fooling ourselves to death.

"If they won’t listen to Moses and the prophets, they will not be persuaded, even if someone rises from the dead.’”

Have a pleasant evening.