Stocks and Precious Metals Charts - This Attractive But Deceitful World - Gold Hits 50% Fibonacci Retracement

 

“Only the humble believe him and rejoice that God is so free and so marvelous that he does wonders where people despair, that he takes what is little and lowly and makes it marvelous.  And that is the wonder of all wonders, that God loves the lowly.  God is not ashamed of the lowliness of human beings.  God marches right in.  He chooses people as his instruments and performs his wonders where one would least expect them.  God is near to lowliness; he loves the lost, the neglected, the unseemly, the excluded, the weak and broken.” 

Dietrich Bonhoeffer, Reflections on Advent 

 

“Evil when we are in its power is not felt as evil, but as a necessity, or even a duty.  Sin is not a distance, it is a turning of our gaze in the wrong direction."

Simone Weil

 

"These are suitable feelings towards this attractive but deceitful world.  What have we to do with its gifts and honours, who, having been already baptized into the world to come, are no longer citizens of this?  Why should we be anxious for a long life, or wealth, or credit, or comfort, who know that the next world will be every thing which our hearts can wish, and that not in appearance only, but truly and everlastingly?  

To those who live by faith, every thing they see speaks of that future world; the very glories of nature, the sun, moon, and stars, and the richness and the beauty of the earth, are as types and figures witnessing and teaching the invisible things of God.  All that we see is destined one day to burst forth into a heavenly bloom, and to be transfigured into immortal glory." 

John Henry Newman 

 

Gold and silver had a follow on hit this morning, but they took much of that back into the afternoon.

Gold in particular hit its 50 percent Fibonacci retracement support level intraday. 

This was a buy point in the metals for me, fwiw.

Silver rebounded with a vengeance.   Bought that on the slump too.

It does look to me like the usual wash and rinse action we see around a big contract month expiration, and is often a multiday event. 

There is no bigger contract month for gold than the December contract.   

And this does seem to be an annual event.  Especially with the regulators asleep at the switch.

Stocks were week, most likely for the end of the month profit-taking and rebalancing. 

The election seems to be a done deal, except for some fantastical stories from snake oil salesmen and the purveyors of clickbait.

The COVD pandemic is still kicking, and taking a toll.  

The talking heads were whining that the VIX remains elevated.   How dare it see risk in these markets.

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

Have a pleasant evening. 

 

Who is the father of this ugly financial system?

Stocks and Precious Metals Charts - Half Day - Nap Time

“People with advantages are loathe to believe that they just happen to be people with advantages. They come readily to define themselves as inherently worthy of what they possess; they come to believe themselves 'naturally' elite; and, in fact, to imagine their possessions and their privileges as natural extensions of their own elite selves.” 

C. Wright Mills 

 

"They do not see the image of Almighty God before them, and ask themselves what He wishes. And, for the same reason that they do not please Him, they succeed in pleasing themselves. Hence, they become both self-satisfied and self-sufficient; – they think they know just what they ought to do, and that they do it all; and in consequence they are very well content with themselves, and rate their merit very high, and have no fear at all of any future scrutiny into their conduct." 

John Henry Newman 

 

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

C. S. Lewis

 

Gold and silver took an early on hit in the NY trade, as the option holders from earlier these week who were in the money took another gut check. 

Is that it? 

Do we bottom now that their mischief is managed? 

Let see what happens next week. 

We are now entering a seasonally strong period for the metals. 

Stocks reached for a high note. 

The Dollar fell again. volatility also fell, despite the breaking news of the assassination of the chief scientist of Iran's nuclear program. 

Dolly and I had some leftover turkey for lunch and we are now ready to succumb to the power of the nap. 

Snuggle on, Dolly.

Have a pleasant weekend.

Thanksgiving Day

 

"In the Incarnation the whole human race recovers the dignity of the image of God.  Thereafter, any attack, even on the least of men, is an attack on Christ, who took on the form of man, and in his own Person restored the image of God in all.   Through our relationship with the Incarnation, we recover our true humanity, and at the same time are delivered from that perverse individualism which is the consequence of sin, and recover our solidarity with all mankind." 

Dietrich Bonhoeffer 

 

"For I was hungry and you gave me nothing to eat, I was thirsty and you gave me no thing to drink, a stranger and you did not welcome me, naked and you gave me no clothing, sick and held in detention, and you did not care for me."

Stocks and Precious Metals Charts - Sitting On Top of the World - Who Could Have Seen It Coming

 

"Year by year the cost of living increases, and wages, if they move at all, move laggingly, and after desperate and embittered strife.  Day by day the money-masters of America become more aware of their danger, they draw together, they grow more class-conscious, more aggressive.  The [first world] war has taught them the possibilities of propaganda; it has accustomed them to the idea of enormous campaigns which sway the minds of millions and make them pliable to any purpose.

American political corruption was the buying up of legislatures and assemblies to keep them from doing the people's will and protecting the people's interests; it was the exploiter entrenching himself in power, it was financial autocracy undermining and destroying political democracy." 

Upton Sinclair, The Brass Check 

 

“Booms start with some tie-in to reality, some reason which justifies the increase in asset values, and then -- and this is the critical feature of speculative mood -- the market loses touch with reality.” 

John Kenneth Galbraith

"I will be your God, unchanging, throughout your life— until you are old, and your hair is white with age.  I made you, and I will care for you.  I will sustain you and save you." 

Isaiah 46:4

 

Gold and silver tried to rally but ended up largely unchanged.

The Dollar (DX) gave up the 92 handle as it continued to move lower.

Stocks rallied on, as long as we're talking tech.

Bitcoin has every aspect of a ponzi scheme.

Have a Happy Thanksgiving.

 

Signal Company, Schofield Barracks, Hawaii - November 20, 1941

Stocks and Precious Metals Charts - Our Cups Runneth Over - Metals Smacked for Comex Option Expiration

 

"Do all without constant arguing and complaining, so that you may be blameless and righteous as children of God, unlike those of this contentious and perverse generation, so that among them you may shine like lights to the world, as you hold firmly to the words of life." 

Phil 2:14-16 

 

Stocks were on a tear higher today, as all thoughts of risk evaporated in the euphoria of a settled national election and the beginning of the end for Covid. 

You don't have to feel or be good to look good, and darling, you look marvelous.

Gold and silver were smacked again soundly for the Comex option expiration.

The Dollar took a dive along with the metals.   

Fearless fire-breathing beta monsters ahead of the long national US holiday.

We're large, in charge, and everything is coming up roses.

Get right, sit tight.

Have a pleasant evening.

Thanksgiving Menus From Days Gone By

 

For an assist in your own Thanksgiving menu preparations. 

And the selection and prices!

I became interested in these old Thanksgiving menus when I found an old menu in my dad's collection of memorabilia from aboard a ship in the Pacific for Thanksgiving 1944.

The New York Public Library maintains an impressive collection of old menus.

Some day our children's children may look back on the menus from our day with similar nostalgia and wonder.

Such are the times and the currencies.