30 September 2022

Stocks and Precious Metals Charts - Risky Business - Stocks Set New Low to End the 3rd Quarter


“The Scriptures are shallow enough for a babe to come and drink without fear of drowning and deep enough for a theologian to swim in without ever touching the bottom.  Ignorance of the Scriptures is ignorance of Christ."

Let them not flatter themselves if they think they have Scripture authority for their assertions, since the devil himself quoted Scripture, and the essence of the Scriptures is not the letter, but the meaning. Otherwise, if we follow the letter, we too can concoct a new dogma and assert that such persons as wear shoes and have two coats must not be received into the Church.

"The privileges of a few do not make common law.  To sin is human, to lay snares is diabolical.   They fill their houses through the plunder and losses of others, so that the saying of the philosophers may be fulfilled, 'Every rich man is unjust, or the heir of an unjust one.'"

St. Jerome

"The blessed John the Evangelist lived in Ephesus until extreme old age.  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.'"

St. Jerome, Commentary on Galatians, 4th century, based on the commentaries of Origen of Alexandria

Stocks set a new low on the CrashTrak chart, and the lowest low since the initial pandemic lockdown stock collapse.

Gold was flat and silver was slightly higher.

The Dollar was unchanged.

VIX was unchanged but still elevated in the 30's.

Bully has to find a bottom here soon and get stocks turned around or the winds of October may blow a hurricane.

Have a pleasant weekend.