The Dawg Also Rises

The yellow dog is howling a hurricane this morning, gathering its recent gains and just punching through 1200, running up to challenge 1270 one might hope.

Let's see how the metal copes with an overbought condition in the short term.

And by the way, it is quite feasible to see a cup with a 'slanted rim.'   We have seen it with gold before.

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.