07 August 2023

Stocks and Precious Metals Charts - Ensnared In Proud Places

 

Ravages of Pride

"It was pride that changed angels into devils; and it is humility that makes men angels.  There never has been, and never can be, and there never shall be any sin without pride.”

Augustine of Hippo

"And I saw a new heaven and a new earth: for the first heaven and the first earth were passed away; and there was no more sea.  And I heard a great voice out of heaven saying, 'Behold, the dwelling place of God is with men, and he will abide with them, and they shall be his people, and God himself shall be with them, and be their God.'"

Revelation 21:1-4

"The humble live in continuous peace, while the hearts of the proud are full of envy and frequent anger."

Thomas à Kempis

“We live according to what we see and feel and wander like madmen in a labyrinth of darkness and illusion for want of the light of faith which would guide us safely through it.  By means of faith we should be able to aspire after God and to live for Him alone, forsaking and going beyond mere worldly symbols.

In the state of abandonment the only rule is the duty of the present moment.  In this the soul resembles water, which flows into any shaped vessel, exactly filling every crevice.  

The high road to all perfection is pointed out in the 'Our Father.'  Thy will be done.  Say this with your lips as well as you can; and still more perfectly in your heart, and be assured that, with this interior disposition nothing is wanting to you, nor ever will be.  There is absolutely nothing that gives us more peace or does more to make us holy than obeying the will of God.

It is certain that God always gives what is necessary to those souls who fear Him. The gifts He bestows on them are not always the most apparent to the senses, nor the most agreeable, nor the most sought after, but the most necessary and solid, what best enables us to die to self.  All humble souls should admire and respect one another, saying: 'Let us proceed along our own path to the same goal, united in purpose and by means of God's plan which, in its great variety, is in us all.”

Jean-Pierre de Caussade, L'Abandon a la Providence divine


The first and most difficult step in the abandonment to God's will is to let go of our selfish pride.  Trust in God is a way of life, through which only His love can guide us.  Love is not easy.  It seems weak and foolish, and even despicable to the fallen and the eyes of the world.

It is a disposition of the mind and the heart, an act of acceptance of grace.  It can be a shield against temptation.  It is a habit of acting and looking at life, as we carry a yoke of restraint on our weaker nature and harsher emotions.  We are always failing, always having to recover and go forward again.

Stocks wobbled most of the day but managed to pull together and rally into the close, going out near the highs.

The Dollar was a choppy unchanged.

Gold and silver were under selling pressure, because they can.

VIX fell.    

Exceptional complacency and moral hazard are us.

The big tickle this week is likely to be earnings, and the inflation data on Thursday and Friday.

I will probably not be posting tomorrow as I am going to have eye surgery for a cataract in the morning.

As routine and beneficial this may be, I may not be feeling perky in the aftermath.

Why does it have to be so early?  

Have a pleasant evening.