US Futures Sunday Evening

Stocks slumped badly on the open at 6 PM Eastern time.

Limit down, right from the open.

They have since bounced a little off the lows. But I expect this to be another rough start for the week.

I decided that I needed to expand the charts a bit, and pick up some of the prior lows from the past.

The hit on the NDX chart support level was gratifying when I sketched it out.

Pictures From Crashes Past

"The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil. Perhaps this is inherent. In a community where the primary concern is making money, one of the necessary rules is to live and let live. To speak out against madness may be to ruin those who have succumbed to it. So the wise in Wall Street are nearly always silent. The foolish thus have the field to themselves. None rebukes them."

John Kenneth Galbraith, The Great Crash of 1929


"The fact that these foolish people are often stubborn must not blind us to the fact that they are not independent. In conversation with them, one virtually feels that one is dealing not at all with them as a person, but with slogans, catchwords, and the like that have taken possession of them.  They are under a spell, blinded, misused, and abused in their very being.

Having thus become a mindless tool, the foolish person will also be capable of any evil and at the same time incapable of seeing that it is evil.  This is where the danger of diabolical misuse lurks, for it is this that can once and for all destroy the human soul.”

Dietrich Bonhoeffer, Letters and Papers From Prison

Each financial bubble and collapse has common characteristics, while having their own peculiar character.

This that we are experiencing now is the third in a series of bubbles that started at the turn of the century.

I suspect it may prove to be the most severe, as compared to the last two.

The crash of 1987 was more of a trading anomaly and glitch in the financial system, similar to the panic of 1907.

I think we are in more of a Crash of 1929 scenario.

Let's take this one as it comes.

And be wary of the power of the well phrased lie, the same lies of the moneyed interests and their enablers and apologists, so often repeated in various forms, that have brought us to where we are today.

Stocks and Precious Metals Charts - Crash of 2020 - Stocks' Rally Attempt Fails, Goes Out On Lows

"This is going to end badly.  Big changes are coming.  What has been hidden will be revealed.  Rough seas ahead, mateys."

Jesse, 22 January 2020, I See It Coming


"Things are going to be getting very real this year, even as some continue to deny reality, to an almost astonishing degree of self-absorption and denial.  What is it going to take?"

Jesse, 27 February 2020


"Now is a good time to prepare, if you have not already done so, and to begin engaging in those simple procedures that may help us weather this."

Jesse, 28 February 2020


"There is no surprise that the one percent love the status quo.  Now they are counting votes, with an eye to a triumph in November.

Let them count the days instead, so that they may know what they have squandered in their greed and in their pride.

We have been lost for a long time.  Perhaps we can find our way again."

Jesse, 4 March 2020


“The truth is that we were so spiritually and morally bankrupt that we could not even see some of those lines: we stepped over them blindly. Other times we saw the lines alright, but we wanted to cross them...

It wasn’t God who was dead.  We were."

Ray A., Practice These Principles

And so here we are.

Stocks attempted to rally today.

But by the time that they fell back from their highs to unchanged, it was pretty clear that we were not going gently into the weekend.

Stocks went out on their lows.

We may be testing lower low next week.

Governor Cuomo's announcement that he is 'locking down' the State of NY tended to drive home the reality of the situation.

Gold and silver managed to hold a rally today.  That was refreshing.

The quad witch stock option expiration has arrived and gone, so the Banks can take a break from fleecing the public with their own money.   Just a break though.

At least four Senators were caught trading on insider information.  What made it even more reprehensible is that they took their profits while they were helping to deceive the public about the true state of affairs.

If you think it is only these four you might well be right, but I doubt it.

Because the numbers of sick and the dying is overwhelming the available resources, the Catholic church announced today a special forgiveness for those with the virus and their caregivers.

This is going to be a tough time.  For all of us.

And so we might as well be kind to one another, even the undeserving.  For who is deserving in the eyes of God?  And yet He forgives us.

No matter what comes, we can choose the way that we act.

We shall sing to our God a new song—  join in, or draw comfort and listen.

The mighty rise and are fallen, but the Word and the Spirit endure.

Need little - want less - love more.

Have a pleasant weekend.

Stocks and Precious Metals Charts - Quad Witch Tomorrow, Comex Metals Option Expiry Next Week

Moloch, God of Wealth and Child Sacrifice

"God whispers to us in our pleasures, speaks in our conscience, but shouts in our pain: it is His megaphone to rouse a deaf world."

C. S. Lewis


"We who lived in concentration camps can remember the men who walked through the huts comforting others, giving away their last piece of bread.  They may have been few in number, but they offer sufficient proof that everything can be taken from a man but one thing: the last of the human freedoms — to choose one's attitude in any given set of circumstances, to choose one's own way."

Victor Frankl, Man's Search for Meaning


“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

Stocks managed to close nearly unchanged today, although there was still a fairly impressive range from top to bottom in the futures markets.

Gold closed lower, while silver managed a little rally.

The Dollar DX Index rally is amazing, a clear example of a flight to safety continuing. At the close it was hovering around 102.78.

Surgical masks are of limited effectiveness, mostly to prevent someone who is already affected from spreading the coronavirus by coughing or sneezing.  N95 masks, however, are effective and are worn by healthcare professionals who are working with patients.  But they are in short supply, which is shameful.  And are not necessary for most people, if they are practicing physical distancing and hand and surface washing.

Keep in touch with each other, and encourage and help one another. And for those who are so inclined, pray for each other.

The Madness serves None but Itself

The usual suspects and con men are mocking peoples' efforts to protect themselves and their families, often because they are negatively affecting the stock market.  Really?

And there are those who would sacrifice the lives of hundreds of thousands of individuals, in order to maintain their own exorbitant worldly privileges.

You might use this as an opportunity to see the quality and character of people who are speaking to you, where they are standing, whether knowingly or foolishly or hysterically.   Be careful what you allow into your minds, or even worse, what you spread around to your friends and family.

People whose hearts are sickened and minds are disordered enjoy shocking and manipulating other people.  It gives them a feeling of worth, and power.  And some of these jokers thrive on sensationalism and panic, without caring what damage they may do, in order to obtain 'clicks' and thrills.

And dare we say it, there are those who traffic in fear and hatred and lies, in order to manipulate people to maintain their power over them.   This is the great lesson we have seen from the aftermath of the Crash of 1929.

There is no need to panic. We have seen worse than this, or at the least our parents and grandparents have. And we will endure.  Act sensibly and responsibly, and keep your eyes on the prize.

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

Have a pleasant evening, and stay safe.