Stocks and Precious Metals Charts - Metals Rebounding

 

Metals rallied sharply higher today. 

There were compressed from being tinkered with ahead of the quad witch option expiration.

The Dollar continued to rollover. 

Stocks ripped higher. 

And a pleasant time is guaranteed for all. 

 Have a pleasant evening. 

 

Stocks and Precious Metals Charts - Quadruple Witch Option Expiration

 

"All I have is a voice
To undo the folded lie,
The romantic lie in the brain
Of the sensual man-in-the-street
And the lie of Authority
Whose buildings grope the sky:
There is no such thing as the State
And no one exists alone;
Hunger allows no choice
To the citizen or the police;
We must love one another or die."

W. H. Auden, September 1, 1939

 

"To know and to serve God, of course, is why we're here, a clear truth, that, like the nose on your face, is near at hand and easily discernible but can make you dizzy if you try to focus on it hard.  But a little faith will see you through. What else will do except faith in such a cynical, corrupt time? 

Gentleness is everywhere in daily life, a sign that faith rules through ordinary things: through cooking and small talk, through storytelling, making love, fishing, tending animals and sweet corn and flowers, through sports, music and books, raising kids — all the places where the gravy soaks in and grace shines through. Even in a time of elephantine vanity and greed, one never has to look far to see the campfires of gentle people." 

Garrison Keillor

 

So where was the risk perception today? 

The Dollar moved lower. Gold and silver moved lower. 

The miners were smacked much harder. 

VIX moved higher. 

Stocks in general were weak, except for the tech bubble and story stocks. 

Must be a quadruple witch option expiration ahead of a major holiday-shortened week.

Ho ho, ho.

The northeast and Middle Atlantic are expecting a major nor'easter this week, carrying a potentially very heavy snowfall with it.

Have a pleasant evening.

Stocks and Precious Metals Charts - Hardened Hearts

 

"The constant, obvious flattery, contrary to all evidence, of the people around the Tsar had brought him to the point that he no longer saw his contradictions, no longer conformed his actions and words to reality, logic, or even simple common sense, but was fully convinced that all his orders, however senseless, unjust, and inconsistent with each other, became sensible, just, and consistent with each other only because he gave them.” 

Leo Tolstoy

 

“We can easily forgive a child who is afraid of the dark; the real tragedy of life is when adults are afraid of the light.”

Plato

 

"Be strong enough to stand alone, be yourself enough to stand apart, but be wise enough to stand together when the time comes."

Mark Amend

 

“To what shall I compare this generation?  They are children playing games in the marketplace, distracting one another.  ‘We played the flute but you did not dance, we sang a dirge but you did not mourn.’  John came neither eating nor drinking, and they said, ‘He is possessed by a demon.’ The Son of Man came eating and drinking and they said, ‘Look, he is a glutton and a drunkard, a friend of tax collectors and sinners.’  But wisdom is vindicated by her works.” 

Matthew 11:16-19

 

Stocks were mixed today with techs and story stocks doing better than the rest of the crowd.

Gold was up a bit and silver continued to show some weakness.

The dollar is still stuck below the 91 handle.

 VIX ticked higher.

There will be an option expiration next week.  The last one of this year.

Have a pleasant weekend.

 

Stocks and Precious Metals Charts - IPO Mania May Be Marking Another Stock Bubble Top

 

"The only function of economic forecasting is to make astrology look respectable." 

John Kenneth Galbraith 

 

Stocks were dragging in the early going overnight. 

But lo and behold, AirBnB brought out its IPO and scored a fabulous opening price over the initial offering. 

And so tech once again led the exuberant way. 

This looks like late stage bubble action. 

There will be a quad witch option expiration next week, just in time for a Santa Claus rally. 

Or is it Santa Fed? 

Gold and silver were running hard but then were smacked down in the early NY going. 

They did manage to take some of that back off the lows, but finished a bit off. 

The Dollar lost the 91 handle, again. 

Light action with plenty of trading gimmicks. 

Have a pleasant evening.