Stocks and Precious Metals Charts - What a Surprise - The Endless Wash and Rinse

 

"It seemed as though the markets thought that there would be a weak jobs number tomorrow, which would put a chill on the Fed's zeal of rate increases.  

Or it could just be a bulltrap, yet another means of skinning the speculators."

Jesse, 2 June 2022


"Over the last thirty years, the United States has been taken over by an amoral financial oligarchy, and the American dream of opportunity, education, and upward mobility is now largely confined to the top few percent of the population. Federal policy is increasingly dictated by the wealthy, by the financial sector, and by powerful (though sometimes badly mismanaged) industries such as telecommunications, health care, automobiles, and energy. These policies are implemented and praised by these groups’ willing servants, namely the increasingly bought-and-paid-for leadership of America’s political parties, academia, and lobbying industry.

If allowed to continue, this process will turn the United States into a declining, unfair society with an impoverished, angry, uneducated population under the control of a small, ultrawealthy elite. Such a society would be not only immoral but also eventually unstable, dangerously ripe for religious and political extremism.

Thus far, both political parties have been remarkably clever and effective in concealing this new reality. In fact, the two parties have formed an innovative kind of cartel—an arrangement I have termed America’s political duopoly, which I analyze in detail below.  Both parties lie about the fact that they have each sold out to the financial sector and the wealthy.  So far both have largely gotten away with the lie, helped in part by the enormous amount of money now spent on deceptive, manipulative political advertising."

Charles Ferguson, Predator Nation, May 21, 2013


"Why are people so reluctant to believe that sociopaths and narcissists can use the power of the pen to prey on people? Because they are well spoken and organized? We would contend that these are the most dangerous of the emotionally warped with a need to acquire, dominate and control, because they are smarter and more calculating than the impulse murderers, burglars, rapists, thieves, and pedophiles.

There is a need for economic law and enforcement as there is a need for the less cerebral, hairy knuckled criminal law and enforcement. The notion that people become naturally good, rational and well-adjusted because they are wearing a suit is ludicrous, especially to anyone who has worked with many of those who move in the upper echelons of money and power.

Some of the scariest people we have ever met were articulate and pathologically driven borderline psychopaths with a need to acquire political and economic power. It is the focus of their illness that makes them powerful. They are not distracted by the diffusion of emotional responses that color most people's actions. They have a need, and the will to satisfy it, no matter what it takes.

There will always be those at the extremes who need to 'take it to the limit,' with a well stocked foreign retreat in case things get ugly. But for most of us, restoring a sense of justice and order and putting the nation back into some kind of working balance will be high on the priority list, if not for ourselves, then for our families."

Jesse, Predator Class, 26 December 2008


A bulltrap it was indeed.

Whipsaw city.

A little of the old wash and rinse.

What a surprise.

I played it as a trap and it worked out fairly well.  It was worth a go.

So, in honor of the Non-Farm Payrolls report gold and silver were smashed.

Stocks declined.

The dollar strengthened.

And Wall Street insiders win again.  Hi ho.

I made some modifications to the CrashTrak model in the data for 1929. I tightened up the timeframes to bring it more into line with a 'crash' as a singular event, and not the ensuing depression that resulted from the numerous policy errors by the Republican government and the Fed.

The 1929 event was about three months in duration, and the 1987 was about two months.

Given the amount of government and Fed intervention in markets which became policy after 1987 I think we can be flexible about our current timeframes however.

A crash in slow motion?

Let's keep an eye on that second high and the principle of lower highs and lower lows.

I am also including a analysis of the 1987 crash that I did in 2004 for my old Geocities blog.

Have a pleasant weekend.

Stocks and Precious Metals Charts - Risk On! - Non-Farm Payrolls Tomorrow

 

"A fascist is one whose lust for money or power is combined with such an intensity of intolerance toward those of other races, parties, classes, religions, cultures, regions or nations as to make him ruthless in his use of deceit or violence to attain his ends.

The symptoms of fascist thinking can be identified by their appeal to prejudice and by the desire to play upon the fears and vanities of different groups in order to gain power.

"The American fascists are most easily recognized by their deliberate perversion of truth and fact.  Their newspapers and propaganda carefully cultivate every fissure of disunity, every crack in the common front against fascism.  They use every opportunity to impugn democracy.

They claim to be superpatriots, but they would destroy every liberty guaranteed by the Constitution.  They demand free enterprise, but are the spokesmen for monopoly and vested interest.  

Still another danger is represented by those who, paying lip service to democracy and the common welfare, in their insatiable greed for money and the power which money gives, do not hesitate surreptitiously to evade the laws designed to safeguard the public from monopolistic extortion. American fascists of this stamp were clandestinely aligned with their German counterparts before the war.

[Democracy] must appeal to reason and decency and not to violence and deceit.  We must not tolerate oppressive government or industrial oligarchy in the form of monopolies and cartels."

Henry Wallace, The Danger of Fascism, 1944


"It is very easy to get drunk with hate.  Hate is like the glass of whisky which is given to the soldiers before a bayonet charge.  Whisky stimulates but does not nourish.  Hate is not creative, only love is creative.  The real conflict is the inner conflict.  Beyond armies of occupation and the catacombs of extermination camps, there are two irreconcilable enemies in the depth of every soul: good and evil, sin and love.  And what use are the victories on the battlefield if we are ourselves are defeated in our innermost personal selves?”

Maximilian Kolbe


"The most important problem in the world today is your soul, for that is what the struggle is about."

Fulton J. Sheen

Stock shook off a warning from Microsoft and rallied higher, going out on the highs.

Gold and silver rallied, as the Dollar sharply declined.

The VIX fell.

It seemed as though the markets thought that there would be a weak jobs number tomorrow, which would put a chill on the Fed's zeal of rate increases.

Or it could just be a bulltrap, yet another means of skinning the speculators.

Stocks still have a ways to go higher to try and take on that second high and invalidate the CrashTrak model. 

Banksters warning about an economic hurricane approaching notwithstanding.

Let's see what happens tomorrow.

Have a pleasant evening.

Stocks and Precious Metals Charts - These Violent Delights

 

"These violent delights have violent ends.
And in their triumph die, like fire and powder."

William Shakespeare, Romeo and Juliet


"Bullies are not as sophisticated or as smooth as the manipulative type, as they rely on coercion, abuse, humiliation, harassment, aggression, and fear to get their way.  Psychopathic bullies lack any insight into their own behavior, and seem unwilling or unable to moderate it, even when it is to their own advantage. Because they see most people as weak, inferior, and easy to deceive, psychopathic con artists will often tell you that their victims deserved what they got."

Paul Babiak and Robert Hare, Snakes in Suits


"We can never be gods, after all.  But we can become something less than human with frightening ease."

N. K. Jemisin


"...it is equally beyond doubt, that every speculative mania which has run its course of folly and disaster in this country has derived its original impulse from cheap money."

The Economist, 1858


"Some distance away a herd of many swine was feeding.   The demons pleaded with him,  'If you drive us out, send us into the herd of swine.'  And he said to them, 'Go then!'   They came out and entered the swine, and the whole herd rushed down the steep bank into the sea, and was drowned."

Matthew 8:28-32


"For those who are determined to be rich fall into temptations and a snare, and into many foolish and hurtful passions which drown them in ruin and destruction.  For the love of money is the root of all evil, after which some have coveted, and have lost their faith and pierced themselves through with many sorrows."

1 Timothy 6:9-10

Dolly passed away a little after noon today at the vet's office, after a seizure and a likely stroke.

She was a good little dog.

Have a pleasant evening.