Stocks and Precious Metals Charts - Still On the Line

“What is hell? I maintain that it is the suffering of being unable to love.”

Fyodor Dostoevsky


“There are only two kinds of people in the end—  those who say to God, 'Thy will be done,' and those to whom God says, in the end, 'Thy will be done.'   All that are in Hell, choose it.”

C.S. Lewis

Or as I have heard elsewhere, the door to hell is locked—  from the inside.

Here are the updated charts as of about 10:30 EDT this morning.

Stocks were jumpy and the precious metals caught a bid off the war of words last night between the US and N. Korea.

The queen is at home in a visiting nurses hospice program.

When we were first dating I was working in a union job for the Ohio Bell telephone company.

See you tomorrow.

Have a pleasant day.

Misguided Legislation Is Directly Repugnant to the First Amendment

I personally do not boycott the state of Israel, or have any interest in doing so.

However, this proposed legislation, co-sponsored by prominent Democrats and Republicans, is a direct assault on the Constitutional Rights of Americans to express their political beliefs.

It also conflates and dilutes the principled stand against anti-semitism and other forms of prejudice, which I strongly support as you know, with economic and political support for a particular government, its political actions and its domestic and international policies. That too carries its own dangers.

It is shocking that this bill has ever gained the traction that it has.

Well-intentioned legislation that extends civil and/or criminal penalties for or against expressions of political beliefs, without reference to an intrusion on the rights of others under the Constitution, sets a precedent that is very dangerous, within the context of an overall erosion of the rights of the individual.

With the ability of the president to suspend habeas corpus, and the widespread surveillance of citizens without due process, the primacy of the rights of the individual in the United States are under assault by government.

It is long time past to take a stand against the creeping corporatism and statism that continues to diminish the rights of the individual against the power of big money and big organizations.

Stocks and Precious Metals Charts - Try To Keep a Little Grace

"Washing one's hands of the conflict between the powerful and the powerless means to side with the powerful, not to be neutral."

Paulo Freire


"Constantly choosing the lesser of two evils is still choosing evil."

Jerry Garcia

A very quiet trading day today saw stocks drifting higher on light volumes and puffs of fast money liquidity.

Gold and silver were slightly lower on a stronger dollar.

If something occurs to trigger selling, there is so much fluff underpinning this market that we *could* see quite a multi-day selloff. It might look like a big down move, a rally back that fails to set a new high, and then a steeper decline.

I would not look for this to happen in the near term since the volumes are so light. It is more likely in late September to the end of October.

Each day that goes by in this kind of narrowly focused price puffing lessens the significance of the 'trigger event' that will be required to provoke a sharp sell-off.

There is no doubt in my mind that the financiers know this. They just do not care when there is money to be made, by any and all means.

Have a pleasant evening.