26 October 2020

Stocks and Precious Metals Charts - Delusion the Demesne of Pride


Uncle Thug
"I urge you, brothers and sisters, to be wary of those who cause divisions and undermine the faithful, in opposition to the teaching that you have learned.  Do not associate with them.  For such people do not serve our Lord, but their own appetites.  And by clever words and flattery they deceive the hearts of the innocent and naive." 

Romans 16:17-18 


 "Let no one deceive you with empty arguments, for because of these things the wrath of God is coming upon the followers of lawlessness.   Do not be associated with them. For once you were in darkness, but now you are in the light of the Lord, so walk as the children of light, for light is found in every kind of goodness and righteousness and truth.  Try to learn what is pleasing to the Lord.  Take no part in the worthless acts of darkness; but rather expose them.  It is shameful even speak of those things done by them in secret, but everything that is exposed by the light will become known." 

Ephesians 5:6-12 


"The wealth of another region excites their greed; and if it is weak, their lust for power as well. Nothing from the rising to the setting of the sun is enough for them. Among all others only they are compelled to attack the poor as well as the rich. Plunder, rape, and murder they falsely call empire; and where they make a desert, they call it peace." 



On Friday I asked rhetorically, 'where is the risk in these markets?'

And here it was today.

Stocks flopped fairly hard from the open, and lost ground for most of the day.

Some determined dip buying brought them back off the lows of the day.

The VIX, a measure of volatility, raised its head quite sharply above its 200 DMA, which had marked its upper bound in a trading range for some time.

The Dollar and gold fared reasonably well as safe havens. Silver not as much.

Denial and delusion is quite prevalent in many circles.

This is as old as Babylon, and evil as sin.   It is the power of the darkness of the world, and of spiritual wickedness in high places.  The difference is that it is not happening in some other place, or in a book, or as forewarned in some vaguely distant prophecy— it is happening here and now.

People will come back to their sense, but slowly, and one at a time.

Have a pleasant evening.