Stocks and Precious Metals Charts - Futures Updates on the Holiday Trade

"When the Pharisees heard that Jesus had arrived, they came and started to argue with him.  Testing him, they demanded that he show them a miraculous sign from heaven to prove his authority.  When he heard this, he sighed deeply from his spirit and said, 'Why do these people keep demanding a miraculous proof like this?  Amen I say to you, I will not give this generation any such sign.'  So he got back into the boat and left them, and crossed to the other side of the lake."

Mark 8:11-13

Although the cash markets are closed today for the President's Day holiday, the futures markets are open.

Stocks reversed quite a bit on the news that Apple is warning on its revenues due to the coronavirus.

What a surprise.

See you tomorrow.

Stocks and Precious Metals Charts - Reckless Disregard - Complacently Into the Storm

"Most Americans are certainly aware a deadly coronavirus broke out in China and has spread around the world, including to the U.S.   Far fewer Americans know the Trump White House’s war on 'the administrative state' (really on those parts of the federal government that don’t serve concentrated wealth and power or that punish the working and lower classes) has rolled back the federal government’s ability to respond effectively to pandemics.

Trump has slashed funding for the federal Centers for Disease Control and Prevention and its infectious disease research.   For 2020, he proposes cutting the CDC budget by $1.3 billion, 20% below the previous year’s level, raising serious concerns among public health experts about the nation’s capacity to protect the citizenry against a deadly contagion."

Paul Street


"It is not possible to found a lasting power upon injustice, perjury, and treachery. These may, perhaps, succeed at first, and limp along on hope for awhile with a flourishing appearance.  But time betrays their weakness, and they eventually fall into ruin of their own designs."

Demosthenes


"Be not deceived, for God is not mocked. Whatever a man sows, so shall he reap."

Galatians 6:7

Stocks were weak most of the day, but managed to ride buying programs into the green in the last twenty minutes of trading.

Pretty confident programs, buying into a three day weekend with black swans a-swirling.

Gold finished higher as did silver.

Gold is pushing fairly hard against that breakout treandline resistance.

At some point I expect it just might get some traction against all this pressing down, and moving somewhat briskly higher.

The Dollar is overbought.

Madness. All of it.

May God have mercy on us for our selfishness and pride.

Have a pleasant weekend.

Stocks and Precious Metals Charts - Prop 'Til You Drop - Saving The Recovery™

“I feel that the dormant goodwill in people needs to be stirred.  People need to hear that it makes sense to behave decently or to help others, to place common interests above their own, to respect the elementary rules of human coexistence.

Truth and love will overcome lies and hatred.”

Vaclav Havel


"The suspicions that the system is rigged in favor of the largest banks and their elites, so they play by their own set of rules to the disfavor of the taxpayers who funded their bailout, are true.  It really happened.   These suspicions are valid.”

Neil Barofsky, TARP Inspector General


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

The narcissistic orientation is one in which one experiences as real only that which exists within oneself, while the phenomena in the outside world have no reality in themselves, but are experienced only from the viewpoint of their being useful or dangerous to oneself."

Erich Fromm

And it is happening all over again.

Stocks were slumping badly overnight, on the brief realization that the scope of the threat to the global economy by the coronavirus is being widely and deeply mispriced.

But as the day wore on in New York, denial once again held the day.

And the market lifted, almost miraculously and steadily, once again.

Do you seriously doubt that the US stock market is being propped up, and at the urging and direction of the White House?

The equity market is the keystone of Trump's miraculous economic recovery.

Do you think for a moment that he and his minions would hesitate to pressure the Fed, the Banks, the Treasury, and the other members of the Exchange Stabilization Fund to push the SP futures higher at ever turn?

And does anyone think that the consciences of those doing this are bothered at all, considering the economic carnage and collateral damage to innocent people that is likely to follow the collapse of this latest financial asset bubble?

All they care about in the short term is maintaining their deceptions and power, in order to become even more rich than they already are.

Well done.

Have a pleasant evening.

Stocks and Precious Metals Charts - No One Can See It Coming - Coronavirus 'Gathering Steam'

“Some people want to see God with their eyes as they see a cow, and to love Him as they love a cow - for the milk and cheese and profit it brings them. This is how it is with people who love God for the sake of outward wealth or inward comfort. They do not rightly love God, when they love Him for their own advantage.”

Meister Eckhart


"Nothing in all of creation is hidden from the sight of the Lord.   Everything is uncovered and laid bare before the eyes of Him to whom we will some day give an account."

Hebrews 4:13

Stocks were off to the races again today, closing out near the highs, on optimism about nearly everything.

The US Dollar moved higher.

The precious metals retreated a bit.

Stocks are at quite a distance above their 200 day moving averages.

You may wish to prepare for a period of relative self-sufficiency in your home, as unlikely as that may seem to be for us now.

One would surely do as much in the event of an approaching storm for example.  They seem to do that here every time a snowflake falls.

The coronavirus seems to be 'gathering steam.'

Hope for the best, but prepare for the worst as they say.

Love God as He loves you, and be not afraid.

I remember you all in my prayers, as I hope you remember me.

Have a pleasant evening.