Stocks and Precious Metals Charts - Shenanigans Abounding

 

“I believe order is better than chaos, creation better than destruction.  I prefer gentleness to violence, forgiveness to vendetta.  On the whole I think that knowledge is preferable to ignorance, and I am sure that human sympathy is more valuable than ideology.  I believe that in spite of the recent triumphs of science, men haven't changed much in the last two thousand years; and in consequence we must try to learn from history.  History is ourselves.  I believe in courtesy, the ritual by which we avoid hurting other people's feelings, by satisfying our own egos.  And I think we should remember that we are all part of a great whole, which for convenience we call nature.  All living things are our brothers and sisters."

Kenneth Clark, Civilisation 

 

"People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.  Intellectual myopia, often called stupidity, is no doubt a reason.  But the privileged also feel that their privileges, however egregious they may seem to others, are a solemn, basic, God-given right." 

John Kenneth Galbraith

 

"You are the very cause of your ignorance, yourselves.  You put away the light, yourselves; you first pluck out both your own eyes, yourselves; and after that other men’s too, so that the blind may lead the blind, until you both fall into the pit.” 

Thomas More 

 

Trading today was 'mixed' pretty much across the markets.

 Gold gained a little and silver slipped a bit.

Big cap tech as in the NDX gained, but gave up a big chunk of the early gains. 

The Dollar moved sideways.

There will be one of the four quad witch option expirations for this year on Friday.

Typically we will see a zig zag trade, with shenanigans galore.

Next week is the Comex option expirations for the metals.

The Fed is going to be making a rate decision this week, and saying a few things about it.

Let's see if gold and silver can run this gauntlet and hold their charts together.

Have a pleasant evening.

 

Stocks and Precious Metals Charts - Shout and Feel It - Quadruple Witching Option Expiratin on Friday

 

Just about everything was bouncing up a little hgher today. 

Biden says that 100 million stimulus checks will be sent out in the next ten days. 

That might put a little pep in the economy's step.

There will be a quadruple witching option expiration for March this Friday. 

Have a pleasant evening. 

 

Stocks and Precious Metals Charts - Spring Is in the Air

 

Stocks managed to claw back their losses from earlier in the day. 

Gold and silver did as well. 

The US Dollar DX finished 21 cents higher, but still well short of the 92 handle. 

We had another day of 70+ degrees weather. 

So it seemed a good time to pack away the snowblower and fire up the lawn tractor and rototiller. 

I turned over a small backyard garden, about 40'x25' and worked in a fairly large compost pile we had cooking since last Fall. 

Now it's time to snuggle down with Dolly. 

Have a pleasant weekend. 

 

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.