"What causes wars, and what causes fighting among you? Is it not your passions that are at war in yourselves? You desire and do not have; so you kill. And you covet and cannot obtain; so you attack and wage war. You do not have, because you do not ask. You ask and do not receive, because you ask without righteousness, to feed your passions. Unfaithful creatures. Do you not know that intimacy with the world is adversity with God? Therefore whoever wishes to be a servant of the world makes himself an enemy of God."
James 4:1-4
"They live out their days in prosperity, and slide peacefully down into hell."
Job 21:13
"Some people are false apostles, deceitful workers, masquerading as apostles of Christ. And no wonder, for Satan himself masquerades as an angel of light. It is not surprising, then, if his servants also masquerade as servants of righteousness. Their ends will be what their actions deserve."
2 Corinthians 11:13-15
“Simon, Simon, behold, Satan demanded to sift all of you like wheat. But I have prayed that your own faith may not fail. And once you have returned to faith, you must strengthen your brothers.”
Luke 22:31-32
"Take a stand for that which is right, and the world may misunderstand you and criticize you, but you never go alone. And the world will look at you and they won't understand you, for your fiery furnace will be around you, but you'll go on anyhow.
But if not, I will not bow, and God grant that we will never bow before the gods of evil."
Martin Luther King, But If Not, Ebenezer Baptist Church, November, 1967
Stocks tried to extend the rebound from late yesterday afternoon.
And for a time they succeeded qiute well, taking back most if not all of the losses from the prior big slide.
But alas, it did not last, and the major indices slid back down to where they opened this morning.
VIX has come down a bit from its lofty peak.
The Dollar gained back some ground.
Gold and silver took some selling.
On the artist X, formerly known as twitter, I suggested on Sunday evening that stocks would find a low, a place where they could gain a footing, and rally back latter in the day on Monday.
And they did.
Further, if one had an itch to re-establish some short positions, they ought to wait for the full recovery of the loss, and then dip back in at the appropriate time and level, slowly.
If you look at the SP 500 futures chart, the key levels have been marked out quite clearly.
This will likely be an attractive but difficult market to trade, full of volatility and big moves with seemingly little fundamental causes behind them.
And at some point I expect the bottom to drop out in response to a terrible exogenous event as a result of the neo-cons' adventurous foreign policy errors.
Best for most investors to sit this one out and take some precautions.
And some seasoned traders are hearing the call of the wild.
Let's see what happens.
Have a pleasant evening.
