Holdings of Precious Metals Trusts and Funds

Stocks and Precious Metals Charts - Save Yourselves From This Wicked Generation - Three Day Weekend

Signorelli, Satan and the Antichrist

"And Simon Peter answered him saying, “Master, we have worked so long, all night, and have not seen any results. But because you say so, I will once again let down the nets.”

Luke 5:5


"Greater love has no man but this, that he lays down his life for his friends."

John 15:13


"And so with many other words and arguments he warned them; and he pleaded with them, ‘Save yourselves from this wicked generation.’

Acts 2:40

I will be posting the charts a little before the close today.

The action is just about grinding to a halt, as most of the adults left much earlier today for their wonderful retreats in the Hamptons.

The junior traders have been left in benign command of the desks, and the algos have been set to neutral.

Gold was up a bit today as the Dollar had a further slight decline. Silver was off a bit and the VIX was lower.

I think we will see a turn, a sea-change if you will, in the gold market this year, perhaps as early as June.

Stock trading was a bit sluggish, with the tech stocks finishing unchanged and the SP 500 up just a bit, mostly on indifferent greed.

The economic data came in weekly. There will be more next week.

Theresa May, the British PM, resigned today.  

The US markets will be closed on Monday for Memorial Day.

Please remember those who have sacrificed much in the service of their friends and families.

And remember those also who sacrifice much, and too often for insults and hardships with little thanks, for their conscience.

Need little, want less, love more. For those who abide in love abide in God, and God in them.

Have a pleasant weekend.

Stocks and Precious Metals Charts - The Wild Ones

“A new scientific truth does not triumph by convincing its opponents and making them see the light, but rather because its opponents eventually die, and a new generation grows up that is familiar with it.”

Max Planck


"In science, progress is cumulative — we stand on the shoulders of giants.   In finance, progress is cyclical — we keep stepping on the same rake."

Jim Grant


"Where does the truth lie? Should one go off and build a little house with flowers outside the windows and a garden outside the door and extol and thank God and turn one’s back on the world and its filth? Isn’t seclusion a form of treachery, of desertion? I am weak and small, but I want to do what is right."

Hans Scholl


"The Plan is for the United States to rule the world. The overt theme is unilateralism, but it is ultimately a story of domination. It calls for the United States to maintain its over­whelming military superiority and prevent new rivals from rising up to challenge it on the world stage. It calls for dominion over friends and enemies alike. It says not that the United States must be more power­ful, or most powerful, but that it must be absolutely powerful."

David Armstrong, Dick Cheney's Song of America, Harpers October 2002

Risk reappeared in the markets today.

It was never really gone. They were just able to ignore it better before this.

Stocks sold off, and set a lower low.

Gold and silver enjoyed a flight to safety, along with Bonds.

There is a three day weekend coming up. Who wishes to go into it holding long positions in stocks?

Have a pleasant evening.

Stocks and Precious Metals Charts - Madness

"Everything was not fine that spring with the American economy. It was showing ominous signs of trouble. Steel production was declining. The construction industry was sluggish. Car sales dropped. Customers were getting harder to find. And because of easy credit, many people were deeply in debt. Large sections of the population were poor and getting poorer...

It was this nature of mass illusion. Prices were going up, people bought. That forced prices up further, that brought in more people. And eventually, the process becomes self-perpetuating. Every increase brings in more people convinced of their God-given right to get rich.

At the end of 1929, as they celebrated New Year's Eve, all that lay in the future. Nobody knew that the Great Depression was coming -- unemployment, bread lines, bank failures -- this was unimaginable. But the bubble had burst. Gone was that innocent optimism, the confidence, the illusion of wealth without work. One era had ended. They toasted the coming of the 30s, but somewhere, deep down, they knew the party was over."

PBS American Experience, The Great Crash of 1929

It seems like the markets, and the world, are holding their breath, wondering what comes next.

Stocks finished off slightly.

The Dollar was largely unchanged, as were gold and silver.

Have a pleasant evening.