13 April 2018

Stocks and Precious Metals Charts - Beware the Leaven of the Pharisees


To some who were confident of their own righteousness, and looked down on everyone else, Jesus told this parable:  “Two men went up to the temple to pray, one a Pharisee and the other a tax collector. The Pharisee stood by himself and prayed: ‘God, I thank you that I am not like other people—robbers, evildoers, adulterers—or even like this tax collector. I fast twice a week and give a tenth of all I get.’

“But the tax collector stood at a distance. He would not even look up to heaven, but beat his breast and said, ‘God, have mercy on me, a sinner.’

“I tell you that this man, rather than the other, went home justified before God.  For all those who exalt themselves will be humbled, and those who humble themselves will be exalted.

Mark 18:9-14


"Beware the leaven of the Pharisees, which is a pious, hollow hypocrisy."

Luke 12:1

Today was a surprisingly sleepy trading day.

The weather was pushing 80 degrees here. Perhaps people were lured away from their offices to enjoy the outdoors.

I know that I was.

All of the tensions that have been causing markets to gyrate are still there, if but forgotten for a day.

Let's see what the new week will bring.  I suspect that more volatility is in store for us, and perhaps a few surprises as well.

Have a pleasant weekend.

















12 April 2018

Stocks and Precious Metals Charts - Fearless - Mr. Reggae Ambassador


"All tyrannies are virtuoso displays, over many years, of cunning, risk-taking, terror, delusion, narcissism, showmanship, and charm, distilled into a spectacle of total personal control."

Simon Sebag Montefiore

It was risk on today as the safe havens were sold and stocks were bid higher. Although it should be noted that they fell off from the highs at the close.

Gold and silver were hit, taking back their recent gains, as the Dollar gained back a little ground on its DX index.

The catalyst for this was a backing off of his threat of a missile attack on Syria yesterday in a morning tweet that said that, yes, he did promise a missile strike, but he did not say when, including never.

I had a good laugh today when it came out that Trumpolini was directing his advisers, including the newly installed Larry Kudlow, to figure out how the US can get back in on the TPP Trade Deal.

As I recall, opposition to the TPP was one of Trump's big differentiators from the neo-liberal, global establishment types like Obama and Hillary.

Oh wait, Trumpolini was meeting with Congressmen from the Farm Belt states today, and he told them exactly what they wanted to hear. Now it makes sense.

Speaking of strange events and new opportunities, I have read that John Boehner, the conservative former Speaker of the House from rural Ohio, is becoming the official lobbyist and spokesmodel for legalizing marijuana. 

"My thinking on cannabis has evolved."

Skip the soy beans for export business, farmers, there's a new cash crop in town.  And don't worry about trade wars because there is going to be plenty of domestic demand.  It's 420 time!   Blaze it!  Dave's not here, but Johnny to the B is in da house.

Smokng weed, drinking beers,
Rollin' fatties, smokin blunts.
15 bucks, little man, put that sh*t in my hand.


Is Monsanto getting into the weed business?   Darn, there go the seeds.

You can't make this stuff up.

There is a broad coalition of bipartisan support for striking out against Syria from the neo-cons and military-industrial complex enablers.

I seem to recall that there was a gas attack in Syria last year, and in the end it was determined that it was not Syria that did it, but the 'moderate rebels' who were performing a false flag of sorts.

And there was a thousand dollar surge in Bitcoin, proving that it was a great day for bullshit.

Well, tomorrow is another day, and all of this can change with one stroke of a tweet.  That's fiat for you.

Have a pleasant evening.






11 April 2018

Stocks and Precious Metals Charts - The Men Who Sold the World


"For what does it profit a man, to gain the whole world, but lose his soul?"

Mark 8:36


"Woe to that man by whom the Son of Man is betrayed.  It would have been better for him if he had never been born.”

Matt 26:24

Today was an off day in stocks from the overnight, with gold and silver catching a bid in response to a heating of the geopolitical tensions over Syria.

President Trump warned Russia of incoming missiles this morning with a tweet, and Russia pretty much told him to go blow.

From trade war to shooting war, the markets are mildly perturbed by the uncertainties, in the half-hearted sort of a way of the short attention span, hot money addicts.

The Fed gave the markets a thrill with their 'hawkish' minutes which were released at 2 PM. But the hollowness of their words were not able to maintain the strength in King Dollar and stocks, and both went out the day in the red after a brief flight upwards.

What's next? Keep an eye of the news, because it seems like history is getting ready to turn a page, slowly.

have a pleasant evening.






NAV Premiums of Certain Precious Metal Trusts and Funds


There is a  'risk off' flight to safety in the markets today.

The unusually high gold to silver ratio seems to reflect this undercurrent.

Gold is somewhat preferred to silver in a 'flight to safety scenario.'

I ascribe this to silver's 'industrial component' which represents about one half its valuation.

But with its much higher than normal volatility, the beta of silver will often prompt silver to 'catch up' and pull forward rather quickly.

Today, for example, both metals are up by the same percentage, for example.   Silver may start rising more quickly if the 'inflation' component of the market risk starts advancing more quickly than the geopolitical risks.

Note that Sprott has acquired the Central Fund CEF and changed the manner of reporting its NAV to conform to the Sprott asset funds model.

Wall Street may be propping the stock indices a bit into the European close, as is sometimes their custom.  Let's see how things go into the close today.

Trumpolini has the markets on edge with his taunting of Russia over missiles and Syria.