Stocks and Precious Metals Charts - The Exceptionals - Worst Start To a Trading Year Since 1932

 

"...we but teach
Bloody instructions, which being taught, return
To plague the inventor: this even-handed justice
Commends the ingredients of our poisoned chalice
To our own lips."

Shakespeare, Macbeth

 

"And one day, too late, your principles, if you were ever sensible of them, all rush in upon you.   The burden of self-deception has grown too heavy.   

Now you live in a world of hate and fear, and the people who hate and fear do not even know it themselves; when everyone is transformed, no one is transformed.   Now you live in a system which rules without responsibility even to God.  The system itself could not have intended this in the beginning, but in order to sustain itself it was compelled to go all the way.” 

Milton Mayer, They Thought They Were Free: The Germans, 1933–45 (and Exceptional)

 

Gold and silver rocketed higher today out of their constraints on the charts.

It was a bit odd to watch the closing trades on the tape late on Thursday as the miners were taken down hard in the lightest of markets.

It did seem as though someone were trying to run the stops which specs had put on ahead of the holiday weekend.  

Or perhaps, trying to make their own short positions look a little better for the year end.

Nevertheless, today was a new day.

Gold went out near the highs, with silver also rallying although with a little less risk averse abandon.

The Dollar dipped but then closed almost unchanged.

The VIX soared.

Stocks got clocked, putting in the worst opening day trading loss since 1932.

Looks like a pretty obvious flight to safety. 

The Georgia Senate runoff elections are tomorrow, with early voting starting today.

The coronavirus is raging.

Jokers and Demi-goons in the Senate are making noises about challenging the recording of the presidential vote on January 6th, against the judgement of the States and the courts.  

Fanservice for the base.   While blocking their stimulus checks.

Let's see what happens next.

Have a pleasant evening.

 

 

 

Stocks and Precious Metals Charts - Last Trade

 

“For last year's words belong to last year's language 
And next year's words await another voice.
And to make an end is to make a beginning."

T. S. Eliot 

 

"In the beginning was the Word,
and the Word was with God,
and the Word was God.

He was in the beginning with God.
All things came to be through him,
and without him nothing came to be.

What came to be through him was life,
and this life was the light of the human race;
the light shines in the darkness,
and the darkness has not overcome it."

 John 1:1-5

“Come to me, all you who are weary and burdened, and I will give you rest. Take my yoke upon you and learn from me, for I am gentle and humble in heart, and you will find rest for your souls.  For my yoke is easy and my burden is light.” 

Matthew 11:28-30

 

And it is. 

I have updated the charts to reflect the movement in the last hours into the close.

See you next year. 

 

Stocks and Precious Metals Charts - Dismissive Complacency - The Leaven of the Pharisees

 

“Nature doesn't ask your permission; it does not care about your wishes, or whether you like its laws or not. You're obliged to accept it as it is, and consequently all of its consequences as well.”

Fyodor Dostoevsky 

 

"Foolishness has a knack of getting its way; as we should see if we were not always so much wrapped up in ourselves. In this respect our townsfolk were like everybody else, wrapped up in themselves; they did not believe in plagues." 

Albert Camus

 

"From the least to the greatest, all of them are greedy for unjust gains; and from prophet to priest they all act falsely.   They have treated the suffering of my people carelessly, saying, ‘all is well’ when there is no such safety.  They act shamefully, and commit terrible offenses. Yet they are not ashamed, and no longer even know how to blush.  And so they will be found among the fallen." 

Jeremiah 6:13-15

 

Stocks traded weakly today.

Volume was listless, even for our algorithmic age.

The dollar moved lower, giving up the 90 handle.

Gold and silver rallied.

They both have potential chart patterns that *could* signal a major move higher in January.

Let's see what happens.

I do not recall seeing so many people acting so contemptibly and carelessly, and without shame.  

The self-deceit and hypocrisy and willful offensiveness against God's love among ordinary people, and even those who consider themselves people of God, is almost astonishing.  

And as for the few, those who serve money and power, they seem almost to be beyond redemption, so hardened are their hearts.

I wonder if this is how it always has been, and I am just noticing it in the quiet of my older years,  or if there is indeed an ebb and flow in the affairs of nations.

“Through pride we are ever deceiving ourselves.  But deep down below the surface of the average conscience a still, small voice says to us, something is out of tune.” 

C.G. Jung

Tomorrow will be the last trading day of 2020.

Have a pleasant evening.

 

Stocks and Precious Metals Charts - On the Road to Damascus

 

"Hear this, you foolish and heartless people,  who have eyes that do not see and ears that do not hear."

Jeremiah 5:21

 

"They have treated the suffering of my people carelessly, saying, ‘all is well’ when there is no safety.  They act shamefully, they commit terrible offenses; and yet they are not ashamed, and do not even know how to blush.  They shall be found among those who are fallen." 

Jeremiah 6:14-15

 

“We run heedlessly into the abyss after putting something in front of us to stop us from seeing it.” 

Blaise Pascal, Pensées

 

"The selfishness of an age that has devoted itself to the mere cult of pleasure has tainted the whole human race with an error that makes all our acts more or less lies against God.   It is better to find God on the threshold of despair than to risk our lives in a complacency that has never felt the need of forgiveness."

Thomas Merton

 

"I was being called to surrender the very citadel of my self. I was completely in the dark.  I did not really know what repentance was or what I was required to repent of.  It was indeed the turning point of my life.  God had brought me to my knees and made me acknowledge my own nothingness, and out of that knowledge I had been reborn.  I was no longer the centre of my life, and therefore I could see God in everything." 

Bede Griffiths 

 

 The Dollar managed to hang on to the 90 handle today.

Gold gained slightly, while silver gave up a little of its recent gains.

Stocks were weak in the broader markets, but showed some buying in the 'story stocks' especially big cap techs.

Volumes and market activity remain very low due to seasonal factors.

You will be happier if you stop looking to see every little thing that people do that bothers you.  

And it will give you more time to look at yourself.

That's really the point of the distraction and obsession with finding faults in others— to prevent us from looking at ourselves, and into our own hardened and foolish and deluded hearts.

Have a pleasant evening.