Stocks and Precious Metals Charts - Skin Trade - Wide Range Intraday in Prices

 

"No one today likes truth: utility and self interest have long ago been substituted for truth.  We live in a nightmare of falsehoods, and there are few who are sufficiently awake and aware to see things as they are.  Our first duty is to clear away illusions and recover a sense of reality.  To recover a sense of reality is to recover the truth about ourselves and the world in which we live, and thereby to gain the power of keeping this world from falling apart."

Nikolai Alexandrovich Berdyaev 

 

"It is precisely this — high-powered computers and the swagger of those who operate them — that is causing worries over high-frequency trading’s increasing sway. 'The markets used to be about capital formation,' said Mr. Quast, the consultant. 'Now 80 percent of trading is driven by some form of statistical arbitrage. We are buying into a statistical house of cards that could unravel very quickly.'” 

Landon Thomas, Inquiry Stokes Concern over Trading Firms that Shape Markets, 3 September 2009 

 

“They were careless people, Tom and Daisy — they smashed up things and creatures and then retreated back into their money or their vast carelessness, or whatever it was that kept them together, and let other people clean up the mess they had made.”

F. Scott Fitzgerald, The Great Gatsby

 

“Ayn Rand's 'philosophy' is nearly perfect in its immorality, which makes the size of her audience all the more ominous and symptomatic as we enter a curious new phase in our society to justify and extol human greed and egotism.” 

Gore Vidal

 

They were running the stops in the metals and big cap tech today.

There were some wide ranges in prices.

The better to skin the small specs out of their positions.

Kind of reminds one of end of month action. 

Get right.   Sit tight.

And stop listening to fools and shills for the moneyed interests spouting nonsense. 

Have a pleasant evening.

Stocks and Precious Metals Charts - Starość Nie Radość - Much Ado About Nothing

 

Gold and silver took a hit in the overnight trading, running the stops. 

But after recovering some on the open they managed to head into the green by the end of day. 

The Dollar moved lower on Fed dovishness. 

Yeah I bought back in on the dip in the miners, yesterday and this morning.  It just seemed to be the thing to do.

Stocks were mixed. 

The tech behemoths were reporting after the bell. 

It was every bit of 90° here today.   And the tree pollen is putting a green film on everything.

I picked a bad day to do some heavier work outside.

Yikes! 

Well, rain off and on for the next couple of days. 

And all work seems heavy to me anymore, even planting trees.   

As my mentor used to say, starość nie radość— 'old age is no joke.'

Have a pleasant evening. 

 

Stocks and Precious Metals Charts - Sheep and Goats - FOMC Tomorrow

 

"Those who are at present so eager to be reconciled with the world at any price must take care not to be reconciled with it under this particular aspect: as the nest of The Unspeakable.  This is what too few are willing to see."

Thomas Merton

 

“When the Son of Man comes in his glory, and all the angels with him, then he will sit on the throne of his glory. All the nations will be gathered before him, and he will separate people one from another as a shepherd separates the sheep from the goats, and he will put the sheep at his right hand and the goats at the left."

Matthew 25:31-33

 

"What will you do on the day of reckoning, and in the time of desolation which follows?  To whom will you flee for relief?  Where will you safeguard your riches?"

Isaiah 10:3

 

Stocks were choppy today ahead of the big tech after hours earnings announcements. 

Alphabet stole the show, capping good results with a massive share buyback.

Gold was off a bit, and silver was higher.

Copper and other raw materials are soaring.

The precious metals miners were trading heavily as JPM lowered targets for them.

The FOMC will be announcing their latest interest rate prognostications tomorrow afternoon.

This market is floating on easy money now.

Have a pleasant evening.

 

Stocks and Precious Metals Charts - Better Call Powell - Black Swans a-Swimming

 

“So that the question is: would there be any advantage, at this particular stage, in going back to the gold standard?  And the answer is: I don't think so, because we're acting as though we were there.  So I think central banking, I believe, has learned the dangers of fiat money, and I think, as a consequence of that, we've behaved as though there are, indeed, real reserves underneath the system." 

Alan Greenspan, 20 July 2005 

 

"Complex systems that have artificially suppressed volatility tend to become extremely fragile, while at the same time exhibiting no visible risks.  In fact, they tend to be too calm and exhibit minimal variability as silent risks accumulate beneath the surface.  Although the stated intention of political leaders and economic policymakers is to stabilize the system by inhibiting fluctuations, the result tends to be the opposite.  These artificially constrained systems become prone to 'black swans' — that is, they become extremely vulnerable to large-scale events that lie far from the statistical norm and were largely unpredictable to a given set of observers. 

Such environments eventually experience massive blowups, catching everyone off-guard and undoing years of stability or, in some cases, ending up far worse than they were in their initial volatile state. Indeed, the longer it takes for the blowup to occur, the worse the resulting harm in both economic and political systems."

Nassim Taleb, The Black Swan of Cairo

 

"...we stood talking for some time together of Bishop Berkeley's ingenious sophistry to prove the nonexistence of matter, and that every thing in the universe is merely ideal.  I observed, that though we are satisfied his doctrine is not true, it is impossible to refute it.  I never shall forget the alacrity with which Johnson answered, striking his foot with mighty force against a large stone, till he rebounded from it— I refute it thus." 

Boswell, Life of Johnson

Stocks moved a bit higher today ahead of the Federal Reserve meeting on Wednesday.

Tesla beat expectations after the bell, but the stock just moved sideways. 

Bitcoin is one of their corporate assets

The Dollar chopped sideways, and failed to take back the 91 handle.

Gold and silver moved slightly higher.

There will be a precious metals option expiration on the Comex tomorrow.

It is not a significant contract month for gold.

JPM is going to be offering a 'bit coin fund' for its wealthier clients.

Have a pleasant evening.