Stocks and Precious Metals Charts - History Lessons Unlearned - Stock Option Expiration on Friday

 

"The temporary alliance between the elite and the mob rested largely on this genuine delight with which the former watched the latter destroy respectability...

To its conviction that history, which was a forgery anyway, might as well be the playground of crackpots, must be added the terrible, demoralizing fascination in the possibility that gigantic lies and monstrous falsehoods can eventually be established as unquestioned facts, that man may be free to change his own past at will, and that the difference between truth and falsehood may cease to be objective and become a mere matter of power and cleverness, of pressure and infinite repetition.

Not Stalin’s and Hitler's skill in the art of lying but the fact that they were able to organize the masses into a collective unit to back up their lies with impressive magnificence, exerted the fascination.  Simple forgeries from the viewpoint of scholarship appeared to receive the sanction of history itself when the whole marching reality of the movements stood behind them and pretended to draw from them the necessary inspiration for action.”

Hannah Arendt

 

After an initial rally attempt, stocks headed south, going out near the lows. 

Gold and silver were under pressure most of the day. 

The miners were taken out and beaten down to the lows. 

There will be a stock index option expiration on Friday. 

Please remember Tony Sanders of Confounded Interest in your thoughts and prayers. 

He is in the hospital with Covid 19.   Yesterday was touch and go, but today he seems to be responding well to treatment.   We have come a long way in the last 10 months.

Please be mindful of the seriousness of these things, despite the nonsense that is being spread about the pandemic, among other things, by the well-meaning, ideologues, and opportunists.

Have a pleasant evening. 

 

Stocks and Precious Metals Charts - Weighed and Found Wanting - Stock Index Option Expiration on Friday

 

“One could make people believe the most fantastic statements one day, and trust that if the next day they were given irrefutable proof of their falsehood, they would take refuge in cynicism; instead of deserting the leaders who had lied to them, they would protest that they had known all along that the statement was a lie and would admire the leaders for their superior tactical cleverness."

Hannah Arendt, The Origins of Totalitarianism 

 

 “The mob believes everything it is told, provided only that it be repeated over and over. Provided too that its passions, hatreds, fears are catered to. The grosser, the bigger, the cruder the lie, the more readily is it believed and followed. The mob has no memory; needless to pretend to any truth: the mob is radically incapable of perceiving it.” 

Alexandre Koyré, Réflexions sur le Mensonge 

 

"The love of most will grow cold, their consciences dull, and their hearts sifted and laid bare.  We have come to put our trust in shameless lies and the will to power." 

Jesse, 16 November 2020

Reality weighed on the markets again today.

Stocks were weakly lower.

But so were The Dollar, gold and silver, although only  marginally.

There will be an option expiration for stocks on Friday.

This is driving shenanigans by the usual suspects.

Have a pleasant evening.

 

Stocks and Precious Metals Charts - Sifted - Lead Kindly Light

 

"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.  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."

Jesse, 12 February 2020

 

"Anger blows out the lamp of the mind. In the examination of a great and important question, every one should be serene, slow-pulsed, and calm.  Intelligence is not the foundation of arrogance.  Insolence is not logic.  Epithets are the arguments of malice.”

Robert Green Ingersoll

 

"Wonderful providence indeed which is so silent, yet so efficacious, so constant, so unerring.  This is what baffles the power of Satan.  He cannot discern the Hand of God in what goes on; and though he would fain meet it and encounter it, in his mad and blasphemous rebellion against heaven, he cannot find it." 

John Henry Newman

 

"The devil will come, and Faustus must be damned... Mountains and hills, come, come, and fall on me, And hide me from the heavy wrath of God!” 

Christopher Marlowe, The Tragical History of Dr. Faustus

 

Stocks had a risk on look to them today, buoyed by the news of another well-performing coronavirus vaccine.   

As an exogenous factor the national election is no longer a risk, although there looks to be quite a bit of sturm und drang ahead, as some leave office fitfully.

Gold and silver were unchanged, and the dollar drifted just a bit lower.

There will be an option expiration for stocks this week, and an important Comex option expiration for the precious metals on the 24^th.

We are heading into the holiday season now, and market dislocations are not seasonally inclined.  

We have come to put our trust in shameless lies and the will to power.

And the love of most grows cold, their consciences dull, and their hearts sifted and laid bare by lies.

What could go wrong?

Have a pleasant evening.

 

Stocks and Precious Metals Charts - And We're On Our Way

 

"As everything in what used to be called creation becomes a commodity, human beings begin to look at one another, and at themselves, in a funny way, and they see price tags. There was a time when people spoke, at least occasionally, of 'inherent worth'— if not of things, then at least of persons." 

Harvey Cox 

 

"Even in a time of elephantine vanity and greed, one never has to look far to see the campfires of gentle people." 

Garrison Kellor

 

Stocks up. 

Gold and silver higher. 

VIX (volatility risk) lower but still elevated. 

The Dollar continues to slip off the 93 handle. 

And away we go, with our minds firmly rooted in fantasy.

 Have a pleasant weekend.