18 November 2020

Stocks and Precious Metals Charts - History Lessons Unlearned - Stock Option Expiration on Friday


"The temporary alliance between the elite and the mob rested largely on this genuine delight with which the former watched the latter destroy respectability...

To its conviction that history, which was a forgery anyway, might as well be the playground of crackpots, must be added the terrible, demoralizing fascination in the possibility that gigantic lies and monstrous falsehoods can eventually be established as unquestioned facts, that man may be free to change his own past at will, and that the difference between truth and falsehood may cease to be objective and become a mere matter of power and cleverness, of pressure and infinite repetition.

Not Stalin’s and Hitler's skill in the art of lying but the fact that they were able to organize the masses into a collective unit to back up their lies with impressive magnificence, exerted the fascination.  Simple forgeries from the viewpoint of scholarship appeared to receive the sanction of history itself when the whole marching reality of the movements stood behind them and pretended to draw from them the necessary inspiration for action.”

Hannah Arendt


After an initial rally attempt, stocks headed south, going out near the lows. 

Gold and silver were under pressure most of the day. 

The miners were taken out and beaten down to the lows. 

There will be a stock index option expiration on Friday. 

Please remember Tony Sanders of Confounded Interest in your thoughts and prayers. 

He is in the hospital with Covid 19.   Yesterday was touch and go, but today he seems to be responding well to treatment.   We have come a long way in the last 10 months.

Please be mindful of the seriousness of these things, despite the nonsense that is being spread about the pandemic, among other things, by the well-meaning, ideologues, and opportunists.

Have a pleasant evening.