Stocks and Precious Metals Charts - How I Learned to Stop Worrying and Love the Bubble

 

Stocks were off to the races, running up to new highs before backing off a bit in the afternoon.

Gold and silver made an attempt to rally in the morning, but once again the lid was slammed shut, and they finished the day essentially unchanged or with a slight loss.

It's an option expiration on the Comex.

Non-Farm Payrolls next week.

Have a pleasant evening.

 

Stocks and Precious Metals Charts - Needful Things - Comex Option Expiration Tomorrow

 

"If I speak in the tongues of angels and of men, but I do not have love, I am a noisy gong or a clanging cymbal.  And if I can prophesy, and know all mysteries and all knowledge, and if I have all faith so that I can move mountains, but do not have love, I am nothing."

1 Corinthians 13 

 

"Through our relationship with the Incarnation we recover our true humanity, and at the same time are delivered from that perverse individualism which is the consequence of sin, and recover our familiarity with all mankind." 

Dietrich Bonhoeffer 

 

"This is how we know who are the children of God and who are the children of the Satan: anyone who does not do good is not God’s child, or is anyone who does not love their neighbor." 

1 John 3:10 

 

"At that time many will fall away, and betray and hate one another.   And many false prophets will appear and lead many astray.  Because of the increase of wickedness, the love of many will grow cold, but those who remain firm to the end will be saved.  And the gospel of the kingdom will be preached in the whole world as a testimony to all nations, and then the end will come." 

Matthew 24:10-14

Stocks were essentially unchanged today in a lackluster trade, soothed back into complacency by the courtiers to the pampered pilferers of Wall Street, the Fed.

The Dollar chopped sideways, just under the 92 handle.

Gold and silver attempted to rally, but were whittled back down in the afternoon trade in NY.

Tomorrow is the July option expiration for precious metals on the Comex.

Next week we will be getting the Non-Farm Payrolls report for June.  

It may be a little more significant because of the recent controversy over a recovery and inflation.

Need little, want less, love more. For those who abide in love abide in God, and God in them. 

Unless the Word blossoms into an active love in our hearts, we have no true life, and are nothing. 

Repentance - forgiveness - thankfulness.

Have a pleasant evening.

 

Stocks and Precious Metals Charts - Are You Feeling Lucky?

 

"What has been holding this Wall Street house of cards together this long is the New York Fed’s willingness (even eagerness) to throw trillions of dollars at the problem at the earliest sign of a hiccup. The fly in this ointment is that the New York Fed is literally owned by these same Wall Street mega banks while simultaneously creating emergency bailout programs and then outsourcing the work to the banks being bailed out.  If ever there was the perfect design for a replay of the Hindenburg, this is it."

Pam and Russ Martens, Market Bubble Set to Explode, June 21, 2021 

 

"For they flatter themselves in their own eyes, so that their own sins cannot be found out and repented. The words from their mouths are full of mischief and deceit; they have ceased to act wisely and to do any good." 

Psalm 36:2-3

 

“Pride thinks its own happiness shines the brighter, by comparing it with the misfortunes of other persons; that by displaying its own wealth they may feel their poverty the more sensibly.  This infernal serpent, pervading the human heart, keeps people from reforming their lives, holding them back like a parasite.”

Thomas More, Utopia

 

The Fed's bubble fluffers were out in force, soothing the markets, whispering sweet nothings, and encouraging the mispricing of risk.

You know, like Japan's policy towards the Tokyo Olympics.

Gold, silver, the Dollar, and the VIX were all lower.

The NDX led by big cap techs rose to yet another new all time high.

Even the SP 500 got in on the act.

The Dow Industrials are only for tourists anymore, and I never look at them.  

There will be a precious metals option expiration on the Comex this week on Thursday the 24th.

The implementation of the Basel III recommendations regarding precious metals approach with the end of the month. 

A fairly large tranche of the physical gold in the Hong Kong Comex warehouses just took a hike.

Need little, want less, love more.    For those who abide in love abide in God, and God in them.

Have a pleasant evening.

Stocks and Precious Metals Charts - Markets Rebound Sharply After the Triple Witch Wash and Rinse

 

"It is easy enough to tell the poor to accept their poverty as God's will when you yourself have warm clothes and plenty of food and medical care and a roof over your head and no worry about the rent. But if you want them to believe you--try to share some of their poverty and see if you can accept it as God's will yourself."

Thomas Merton 

 

“This great masquerade of evil has played havoc with all our ethical concepts.  For evil to appear disguised as light, compassion, historical necessity or even social justice is quite bewildering to anyone brought up on our traditional ethical concepts, while for the Christian who bases his life on the Word, it merely confirms the fundamental wickedness of evil.  Mere waiting and looking on is not Christian behavior.  Christians are called to compassion and to action." 

Dietrich Bonhoeffer 

 

Markets decided that the gloom and doom of Fed hawkish that drove markets lower on Friday was not all that serious after all, and rallied strongly today.

Option expiration over, markets rally.

What a surprise.

The Dollar and VIX dropped.

Gold and silver were higher.

The SP 400 led the tech heavy NDX higher.

There will be a Comex option expiration this week, more important for silver than gold.

It will be interesting to see how the impact of the Basel III rules regarding gold will impact its price and supply at the end of the month.

Need little, want less, love more.   For those who abide in love abide in God, and God in them.

Have a pleasant evening.