“'Simon, Simon, behold! Satan has demanded permission to have all of you, to sift you like wheat. But I have prayed for you, that your faith may not fail. And once you have returned, you must strengthen your brothers.' And Simon said, 'Lord, I am ready to go with you, to prison and death.' Jesus answered, 'Before the cock crows, you will deny three times that you even know me.'" Luke 22:31-34
Gold and silver backed off a bit today from yesterday's high note.
The Dollar took back the 91 handle.
The SP and NDX both fell, at one point rather sharply.
But they did managed to finish off the lows.
Non-Farm Payrolls on Friday.
Have a pleasant evening.
"If you pray and love, that is where happiness lies."
John Vianney
Gold and silver rebounded sharply higher from the end of month boogie woogie of last week.
Stocks were mixed with the SP 500 higher and the big cap tech NDX lower.
The Dollar declined giving up the 91 handle.
Chairman Powell threw a damper on the speculation about higher interest rates that the trading desks were pushing (for their own purposes) last week.
There will be a Non-Farm Payrolls report on Friday.
It was a bit cooler today, so I spent a good part of the afternoon hanging out with Pete Moss and friends in the garden.
Have a pleasant evening.
Stocks retreated today, the last day of April.
Gold and silver moved lower.
The Dollar was sharply higher.
The VIX rose.
It looked like a day of reversals.
The talking heads were making noises about inflation.
There will be a Non-Farm Payrolls report next week.
Have a pleasant weekend.
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.
