24 September 2021

Stocks and Precious Metals Charts - Shameless and Defiant to the End


“He comes to us as One unknown, without a name, as of old, by the lakeside, He came to those men who knew Him not. He speaks to us the same words: "Follow thou me!" and sets us to the tasks which He has to fulfill for our time.  He commands.  And to those who obey Him, whether they be wise or simple, He will reveal himself in the toils, the conflicts, the sufferings which they shall pass through in His fellowship, and, as an ineffable mystery, they shall learn in their own experience Who He is.” 

Albert Schweitzer


"Here we may reign secure, and in my choice to reign is worth ambition though in Hell: Better to reign in Hell, than serve in Heaven."

John Milton, Paradise Lost

“There are only two kinds of people in the end— those who say to God, 'Thy will be done,' and those to whom God says, in the end, 'Thy will be done.'  All that are in Hell, choose it.” 

C.S. Lewis

The financial spokesmodels were waggling their drooping pom-poms with all the vigor they had today.

And stocks managed to overcome their early losses, and were able to move into the green in the afternoon, after the rest of the world had gone home for the weekend.

The Dollar was higher along with Treasury yields.

Gold and silver were quite a bit lower intraday, but managed to come back to slight losses.

I suspect we are positioning ahead of the futures contracts expiration for precious metals om Monday the 27th next week.

The inventories of physical gold in the Comex warehouses in Hong Kong had fallen to lower levels.  So perhaps it was time to hit the metals and scrape more inventory out of the ETFs.

Have a pleasant weekend