15 July 2022

Stocks and Precious Metals Charts - Come and See

 

"At times our own light goes out and is rekindled by a spark from another person.  Each of us has cause to think with deep gratitude of those who have relighted the flame within us."

Albert Schweitzer


“The will of God presents itself at every moment like an immense sea that your heart cannot exhaust. There is not a moment in which God does not present Himself under the cover of some pain to be endured, of some consolation to be enjoyed, or of some duty to be performed. 

Leave the past to the infinite mercy of God, the future to His good Providence, and give the present wholly to His love by being faithful to His grace.”

Jean-Pierre de Caussade, L'abandon à la Providence Divine


"The blessed John the Evangelist lived in Ephesus until extreme old age [age 94 c 100 AD).  His disciples could barely carry him to church and he could not muster the voice to speak many words.  During individual gatherings he usually said nothing but, 'Little children, love one another.'  

The disciples and brothers in attendance, annoyed because they always heard the same words, finally said, 'Teacher, why do you always say this?'  He replied with a line worthy of John: 'Because it is the Lord's commandment, and if it alone is kept, it is sufficient.'"

Jerome, Commentary on Galatians, based on the commentaries of Origen of Alexandria


Stocks went on a 'risk on' tear higher, with the VIX dropping down hard to its longer term moving average.

Apparently the concerns about a 100 basis point interest rate increase at the next Fed meeting has receded since the other day.

And surprise, the Fed Inspector General has found nothing amiss with 'Fed governors doing millions of short term transactions in the futures markets for their personal accounts.

Nothing to see here, move along.

Shameless.

Gold slumped again despite the big drop in the Dollar.   Silver rode higher with stocks.

One might suspect a short term bottom is underway, at least until the next Comex options expiration on June 26th.

Have a pleasant weekend.