SP 500 and NDX Futures Daily Charts - Skittish, Toombs, Very Skittish

"Don't know about this new crew of yours. They seem a bit skittish. Probably shouldn't tell them what happened to the last crew...

Skittish, Toombs, very skittish."

Vin Diesel, Chronicles of Riddick

Stocks were on another down leg today, taking back the late afternoon stick save from yesterday, and a little bit more.   The selling was very orderly and the VIX barely bleeped.

The spokesmodels were claiming this is a 'good news is bad news' thing, since retail sales grew more than expected in this morning's economic news. Well, not at all, if you look at them ex-auto.

The market was in profit taking mode today, and most likely based on international jitters ahead of a weekend.  Greed was struggling with just a twinge of fear.

I speak to those jitters in tonight's gold and silver commentary above.

Have a pleasant weekend.

Thursday Evening: Only Time

I remember 9/11 like it was yesterday.  I am surprised at how strongly the memory of it remains.

I remember the concerns of the class mothers, who were thinking about what to do with the children in our little school in a town, on one of the commuter train lines to NYC, when it came time for them to go home.

 

They did not know who would not be showing up, and exactly what to do about it.

I remember the line of the mourners and hearses at the very large group funeral service at our local church.  And the plaque we put up at the train station with the names of those who died.

 

I remember hearing about the woman who put one of her husband's suits on the bed, and just laid down next to it, and cried for her loss.   

I remember those brave responders, and so many others, who gave their lives assisting others, in the last full measure of devotion.

I remember seeing the fear in people's eyes for days afterwards, and how that fear was used. 

 

And how Wall Street and the government beat its breast, and wrapped itself in the flag.

I look on how we have acted since then, and where we have been led.

 

Ours is certainly not the only tragedy in the world.  But it has been given to us, and is ours.

Who can say what will happen?   Only time.  And those of us who still live, and how we abide.

 

Gold Daily and Silver Weekly Charts - Like a Land War In Asia

There was the usual London-New York hit applied to the precious metals earlier this morning. Nothing new in that.

There was a bit of a bounce into the close for gold, and some action in the mining stocks as well.

Shown below are the Comex reports for both gold and silver for yesterday. I thought it was funny that more gold contracts were stopped than for silver.  But this is the active month for silver and not for gold! 

Not that even that factoid means anything. Watching the Comex these days is like watching the magicians beautiful assistant move the boxes around on stage, while the magician executives his sleight of hand undetected.

The real markets for precious metals have moved overseas. The West is fighting a holding action in a currency war of attrition. It must be like fighting a land war in Asia. You roll out your best shock and awe, complete with media fanfare, over and over. But they are gaining ground little by little. 

I know, let's flatten our own markets and their economic integrity back to the stone age of rigged prices and perpetual fraud, executed by and for the very few while the domestic public staggers.  That will show them who's in charge: until exhaustion of lies, or the collapse of force.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Stick Save In Pigland

Stocks were wobbly for most of the day as the US administration is once again beating the drums of endless war.

And it did not help that the economic numbers this morning came in a bit weakly, with initial unemployment claims a bit on the high side.

But these daily numbers do not mean all that much. What is of much more concern is the instability in the world, that I would suggest is an artifact of the 'currency war.'

And of course the currency war is almost beyond a doubt one manifestation of the impulse of the North Atlantic elite political power structure's attempt to make this 'the Anglo-American Century.'  

The pampered classes have lost their grip on the traditional colonial empire, and seem to be seeking to maintain and recreate it in a broader, more financialized guise.

Let's see how this works itself out.

Have a pleasant evening.