Stocks and Precious Metals Charts - "We Really Don't Have a Fear Trade Anymore" - Rounders of Finance

"In my club, I will splash the pot whenever the fuck I please." 

Teddy KGB, Rounders

 

"It hurts doesn't it? Your hopes dashed, your dreams down the toilet.  And your fate is sitting right besides you." 

Teddy KGB, Rounders 

 

"You're right Teddy, the ace didn't help. [pushes chips towards the center and flops down his cards] I flopped the nut straight." 

Mike McDermott, Rounders

 

Stocks were on another run higher today, as it was risk on de luxe.

Gold and silver continue to climb out of the hole that the bullion banks and hedge funds hammered them down into. 

Miners seem to be pacing the way up.

I would not rest too easy in any new long positions.

These jokers love to come back for seconds and thirds.  It's a sociopath thing. 

Rounders was one of my favorite 'gambling' movies.  

We used to go out to Las Vegas three or four times a year in the 70's and 80's. 

I liked to stay at the Frontier, so I could hang out in the Stardust Sports Book during the day.

But that was before they ruined the town, and turned the it into a corporate theme park.

It breathed easier when there were big stretches of desert between the clubs.

I got married in Las Vegas, in an actual church that used to be out in the desert all by charming self.

The last time I went out there that little Spanish style desert church was surrounded by condos and new houses.

Let's see how the rest of the week goes.

We are heading for a Minsky Moment.

Third time's the charm.  Or is it four now?

Timing will be everything. 

Just a series of booms and busts.

Who could see the next one coming?

The Fed reserves the right to splash the pot whenever they wish, on behalf of their benefactors.

But in this real life version of the film, Teddy doesn't pay off when he loses.  So grab it off the table while you can.

Have a pleasant evening.

 

Stocks and Precious Metals Charts - E Pluribus Moola - From Many Pockets Into Some - Zimbabwe Jay

 

"Monetary conditions exert an enormous influence on stock prices.  Indeed, the monetary climate - primarily the trend in interest rates and Federal Reserve policy - is the dominant factor in determining the stock market's major direction." 

Martin Zweig 

"The real collapse of our currency began when it became evident that certain industrial circles were more powerful than the government." 

Adam Fergusson, When Money Dies

 

Tech continued to be a bit of a drag on the equity market.

The broader, non-weighted indices are gaining on what the pundits and their spokesmodels claim is the anticipation of a broad based economic recovery.   As if.

It seems to this gimlet eye that it might also be a broad inflationary trend buoyed by historic money printing.

Gold and silver continued to rebound a bit after the trouncing they took from the Banks.

There was a to-do about the newly empowered Democrats lambasting the moneyed interests and their personal ATM and wealth transfer machine called Wall Street. 

They always talk a good game, but then hide behind the GOP Senate filibuster, and do little or nothing.

I will become optimistic when I see the Democrats begin to actually do something, which they can.

As for the Republicans, they have a moral cancer, and are likely beyond redemption. 

And the band played on.

Slouching towards Harare to be born.

Have a pleasant evening.

 

Stocks and Precious Metal Charts - Forgiven - Risk On as Stocks Bounce

 

"Then he added, “'Now go and learn the meaning of this Scripture: ‘I want you to show mercy, not offer sacrifices.'”

Matthew 9:13

 

"The master summoned him and said, ‘You wicked servant!  I forgave your entire debt because you begged for mercy.  Should you not have had pity on your fellow servant for his debt, as I had pity on you?’  Then in anger the master handed him over to be tortured until he paid his entire debt.  So will my heavenly Father do to you, unless you forgive others, from your heart.” 

Matthew 18:32-35 

"Then they will answer, ‘Lord, when did we see you hungry or thirsty or a stranger or naked or ill or in prison, and not minister to your needs?’  And He will say, ‘Truly, what you did not do for one of the least of these, you did not do for me.’ And those who were heartless will go to eternal punishment, but the virtuous to eternal life.” 

Matthew 25:44-46

 

"Blessed are the merciful, for they will be forgiven." 

Matthew 5:7

 

As you may recall I said that the equity markets are still 'bubble-friendly' a few trading days ago.

And so they are.

It was 'risk on' as stocks took back their recent losses.

The Dollar slipped off the 92 handle, just.

VIX dropped to its short moving average.

Gold and silver had big bounces.

I think a lot of this was an unwinding of 'technical trades' designed to skin the broader trading public.

Let's see what tomorrow brings.

The short end Treasury auction was well bid, bringing some relief to the markets overall.

Keep an eye on the Treasury auctions tomorrow for a tell on the technicals at the longer end.

Have a pleasant evening.

 

Stocks and Precious Metals Charts - And the Band Played On

 

"It is a far, far better thing to have a firm anchor in nonsense than to put out on the troubled seas of thought."

John Kenneth Galbraith 

 

"Some of you may die, but it's a sacrifice I am willing to make." 

Lord Farquaard, Shrek

 

"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 

 

There was a blog post with substantial commentary about the metals and other markets earlier today.

You can read it here. 

If you take the time to watch the video you may learn something which could prove to be useful.

In response to a few questions I had from viewers, lawsuits have been tried before, and not been able to gain traction.

 There is a school of thought that says a bubble like this cannot be brought down by internal reform, but has to collapse first, in order to be resolved.

 But aren't we working on the fourth bubble or so of this cycle in stocks?

Crime pays, and therefore lives on, until it does not.

Tech plunged again, all the way to what looks like a 'must hold' level. 

The SP 500 also gave it up a bit, but not as much. 

The Dow Industrials rallied, but it is a papier-mâché showpiece for tourists. 

The Dollar rallied, taking out the 92 handle. 

The rising 10 Year Treasury yield is having its effect.

Higher rates with a stronger dollar is something even our servile, corporate-sponsored nomenklatura and their elite money masters cannot possibly desire as a policy outcome, even in their sociopathy and naive recklessness about financial matters.

But you could say the thing about our endless wars with so little of strategic value to gain.

Let's see what they'll think of next.

Have a pleasant evening.