Gold Daily and Silver Weekly Charts - The Mask of Agamemnon

"Of this Logos, the Word, being eternal men have proven to be uncomprehending, both before they hear and once they have heard it.  For although all things happen according to this Word, they are like the uneducated who first experience words and deeds such as when I distinguish each thing according to its essence and show how it is.

And as for the rest, they are as unaware of what they do when they are awake, as they are when they are asleep."

Heraclitus

Heraclitus was a grouchy old cuss, wasn't he? As I recall he ended badly, becoming a hermit or something like that. Much of what he said comes as fragments quoted by his contemporaries such as Plato and Euripides.

The Greeks had a true, monumental civilisation when most of Europe was still living in mud huts and hauling very large stones about for something spiritual to do. How have the mighty fallen indeed.

I picked up some of Heraclitus' material today and reread it, for some reason that escapes me now. It seemed like the thing to do in the spirit of change after stripping the old caulk from the bathroom and replacing it with new silicon caulk, which is stubbornly clingy, not amenable to differing bends and curves, and hard to work with and clean up afterwards.  Rather like most economic theories, especially those concerning money.

What remains to us from those days, except for their words, their wondrous monuments, and their artifacts,  fashioned from enduring things, like gold?

Gold had another run up at 1200 today, as stocks did a rally attempt on Yellen's dovish words and then fell back down hard below key resistance.

I also bought a small position in a miner today, so my bullion positions would not become lonely.

There was a rather large delivery in gold at The Bucket Shop yesterday.  The box scores are included below.

Uncle Buck swooned a bit more, most likely compliments of the fumbling Fed.

Let's see what tomorrow brings.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Another Pop n' Flop Below Key Resistance

“Unless you expect the unexpected you will not find it, for it is hidden and uncharted.”

Heraclitus, as quoted by Euripides

Once again we had a pop rally in equities based on some vain hope, in this case it was the dovish words of Chairman Yellen in her Fed testimony to the Congress.

And once again stocks faded and closed below key overhead resistance.

Bully will get one or two more tries at this sort of thing, and then I'm afraid that it is likely for stocks to roll over and take a trip downtown.

Have a pleasant evening.

For The Times They Are A-Changin'

'Change is the law of life. And those who look only to the past or present are certain to miss the future.

A great change is at hand, and our task, our obligation, is to make that revolution, that change, peaceful and constructive for all. Those who do nothing are inviting shame as well as violence.

The problems of the world cannot possibly be solved by skeptics or cynics whose horizons are limited by the obvious realities. We need men who can dream of things that never were and ask, why not?

History is a relentless master. It has no present, only the past rushing into the future. To try to hold fast is to be swept aside.'

John F. Kennedy


'Cynicism masquerades as wisdom, but it is the farthest thing from it. Because cynics don't learn anything.

Cynicism is a self-imposed blindness, a rejection of the world because we are afraid it will hurt us or disappoint us. Cynics always say no. But saying yes begins things.'

Stephen Colbert


'All successful revolutions are the kicking in of a rotten door.'

John Kenneth Galbraith


'This generation has a rendezvous with destiny.'

Franklin Delano Roosevelt

For good or ill, after a long period of abuse and a testing of the extremities of power and the people's willingness to accept them, the only inevitability is change.  Always.

History is not a given, it is not given to us. It is what we are, what we have been given, and what we make of it.