Stocks and Precious Metals Charts - Risk Off - Jackson Hole on Deck

Mammon, child of Pride

“We must alter our lives in order to alter our hearts, for it is impossible to live one way and pray another.

If you have not chosen the kingdom of God first, it will in the end make no difference what you have chosen instead.”

William Law


"Day by day the money-masters of America become more aware of their danger, they draw together, they grow more class-conscious, more aggressive. The [first world] war has taught them the possibilities of propaganda; it has accustomed them to the idea of enormous campaigns which sway the minds of millions and make them pliable to any purpose.

American political corruption was the buying up of legislatures and assemblies to keep them from doing the people's will and protecting the people's interests; it was the exploiter entrenching himself in power, it was financial autocracy undermining and destroying political democracy.  By the blindness and greed of ruling classes the people have been plunged into infinite misery."

Upton Sinclair, The Brass Check


"Greed is a bottomless pit which exhausts the person in an endless effort to satisfy the need without ever reaching satisfaction."

Erich Fromm

Greed does not need— it wants.  It is a sickness that consumes, and craves more.  Until it consumes itself.

Visiting in-laws, extended family, and the newborn from the youngest goddaughter makes his debut.

It was a very good day.

Have a pleasant evening.

Stocks and Precious Metals Charts - Time Out - Jackson Hole Week

"If you don't like the yield curve as a recession gauge, how about the -5.9% YoY trend in the Cass Freight Index, the -9.7% plunge in Port of Long Beach cargo traffic and the 3.9% slide in US railway carloadings?"

David Rosenberg

Enjoying the company.

Have a pleasant evening.

Precious Metals Holdings and Commitments of Traders

Stocks and Precious Metals Charts - Jackson Hole: Where the Elite Meet to Bleat - Stock Option Expiration -

Stocks bounced today. There was a strong desire to paint a little better looking candle on the weekly chart, and they were probably short term oversold.

There was no 'risk on' mood yet, just a little greed creeping back into the fears of the 'buy the dip' crowd.

This remains a highly volatile market, susceptible to endogenous shocks, even ones of a not exactly overwhelming significance in otherwise normal times.

Gold, silver and the Dollar pretty much went sideways, even with the additional volatility of a stock market option expiration.

The economic crowd will be gathering at the Fed's soiree in Jackson Hole next week.

I think we can expect to see quotes, even taken out of context, moving markets one way or another.

I may be out of pocket a bit more than usual next week. But I will certainly try to get a posting done each day.

The markets will always be there. Your friends and family may not.

Have a pleasant weekend.