Stocks and Precious Metals Charts - Autumn in New York - Comex Option Expiration on Thursday 24th

 

"Go and learn the meaning of the Scripture: ‘I desire that you show mercy, not offer sacrifices.’  For I have come to call not those who think they are righteous, but those who know that they are sinners.” 

Matthew 9:13 

 

"My son, you are always with me, and all that I have is yours.  But it is right that we should make merry and be glad, for your brother was dead and is alive again.  He was lost, and now he is found.’ ” 

Luke 15:31-32

 

Stocks were in rally mode today, led higher by the big cap techs. 

Like a dog returns to its vomit, so a fool returns to his folly. 

The dollar rallied, and gold and silver were off. 

There will be a Comex metals expiration for the October contracts on Thursday. 

Like the recovery, the strength in the equity markets are an illusion, puffed up with easy money and illicit behaviour. 

But, as they say, it is what it is. 

More important, and more to our own control, is that we do not harden our hearts, or allow our own love for others and His gifts to grow cold.

Today was another glorious early autumn day. 

Have a pleasant evening.

Stocks and Precious Metals Charts - Comex Option Expiration Antics - The Calling of Matthew

 

Stocks were hit by selling in the overnight futures, and that carried into today's cash session in New York.

Gold and silver were also hit hard as well, silver particularly hard. 

After a difficult morning session, the bulls took heart and found the traction to buy the big cap techs, once again, driving the NDX to finish in the green.

The SP gained back some ground but was weighed down by the Banks.  It appears that the Street and Regulators were shocked, shocked! -- to find out the Banks are still laundering trillions in dirty money.

What a surprise.   Serial felons are doing illegal but highly profitable transactions for which the punishments, if you can call them that, do not nearly match the crimes.

Gold gained back quite a bit, and has a pattern that might be seen as similar to a previous gut check down out of the trading range, which preceded a sharp rally to a new high.

Well, we will just have to wait and see how things unfold.

The physical gold inventories in Hong Kong remain remarkably light.

It got well down into the 30's here last night.   It should warm up for the rest of the week.

We spent a good time tilling the soil in the back for a bigger garden next Spring.

We will observe the first day of Autumn, and the Comex option expiration on the 24th.

Winter is coming.

Pray for the three great gifts: repentance, forgiveness, thankfulness.

Have a pleasant evening.

 

 

Stocks and Precious Metals Charts - Into the Weekend

"We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake.  Therefore at any price, at any cost, the central banks had to quell the gold price, manage it.  It was very difficult to get the gold price under control but we have now succeeded.   The US Fed was very active in getting the gold price down.  So was the U.K." 

Eddie George, Governor Bank of England, in a conversation with CEO of Lonmin, September 1999

 Stocks were weaker today, continuing the slide from yesterday for the quad witch option expiration.

They did recover some of their losses into the closing hour for the weekend. 

The Dollar was choppy and weak, but managed to close almost unchanged.

Gold and silver were a little stronger but closed almost unchanged.

Next week is a Comex option expiration for gold, for the October contract.  

The physical inventories in Hong Kong Comex warehouses remained very thin.

Repentance - forgiveness - thankfulness.

There are the three great gifts of His tender mercy.

Have a pleasant weekend.