Stocks and Precious Metals Charts - Comex Option Expiration Tomorrow

 

"There seems little question that in 1929, modifying a famous cliche, the economy was fundamentally unsound.  This is a circumstance of first-rate importance.  In 1929 the rich were indubitably rich.  The figures are not entirely satisfactory, but it seems certain that the five per cent of the population with the highest incomes in that year received approximately one-third of all income. 

The proportion of personal income received in the form of interest, dividends, and rent – the income, broadly speaking, of the well-to-do – was about twice as great as in the years following the Second World War.  This highly unequal income distribution meant that the economy was dependent on a high level of investment or a high level of luxury consumer spending or both. 

The rich cannot buy great quantities of bread. This high bracket spending and investment was especially susceptible, one may assume, to the crushing news from the stock market in October 1929." 

John Kenneth Galbraith, The Great Crash of 1929 

 

"Time is a flat circle. Everything we have done or will do we will do over and over and over again— forever. This place is like somebody's memory of a town, and the memory is fading. It's like there was never anything here but jungle." 

Rust Cohle, True Detective 

 

"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, The Plague

 

Stocks had the wobbles today, but managed to close higher in the late afternoon while the rest of the world slept.

Gold, silver, and the Dollar all were weakly trading.  Silver finished unchanged.

There will be a Comex option expiration for the metals tomorrow. 

All eyes will be on the FOMC meeting this Wednesday. 

I doubt they will do anything or say much before their soiree in Jackson Hole in August.

Try to remember yourselves, who you are, and whom it is you serve.

We have gone through a period of madness, which I would have not believed possible.

Hopefully we will come back to our senses.  Especially if we stop filling our minds and hearts with lies and hate.

It is not worth it.   And especially for those who send and teach these things to their children and grandchildren.   Their sorrow will be profound.

Have a pleasant evening. 

 

Stocks and Precious Metals Charts - Who Let the Hogs Out

 

“I know now that one of the characteristics of evil is its desire to confuse.”

M. Scott Peck 

 

“You might as well bang your head into a brick wall if you expect the narcissist to be reasonable, empathetic or human in any way."

Tina Swithin 

 

"Woe to those who call evil good and good evil, who put darkness for light and light for darkness, who put bitter for sweet and sweet for bitter... Who acquit the guilty for a bribe, and deprive the innocent of justice."

Isaiah 5:20-23 

 

After some early weakness US equities, led by the story stocks, went on a tear to new highs.

This bubble in valuations is going to leave a mark when it falls back down to the mean.

Gold and silver took another morning hit, in the market's version of Groundhog Day.

There will be an FOMC decision next Wednesday, and a Comex option expiration for the precious metals on Tuesday.

The earnings reports will be rolling out as well, with an emphasis on the big tech names.

Have a pleasant weekend.

Stocks and Precious Metals Charts - There Must Be Some Way Out of Here

 

“We are slow to master the great truth that even now Christ is, as it were, walking among us, and by His hand, or eye, or voice, bidding us to follow Him.  We do not understand that His call is a thing that takes place now.  We think it took place in the Apostles' days, but we do not believe in it; we do not look for it in our own case."

 John Henry Newman 

 

"The great masquerade of evil has played havoc with all our ethical concepts.   For evil to appear disguised as light, as charity, as historical necessity, or social justice is quite bewildering to anyone raised on traditional ethical concepts.  But for the Christian who builds his life on the word of God, it merely confirms the fundamental perversity of evil." 

Dietrich Bonhoeffer 

"The most important problem in the world today is your soul, for that is what the struggle is about." 

Fulton J. Sheen

 

Stocks finished higher today, led by the big cap tech story stocks.

The Dollar chopped sideways just shy of the 93 handle. 

 Gold and silver moved slightly higher.

The miners were under a bit of pressure.

FOMC and a Comex option expiration next week.

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 - Vanities

 

 “We fear men so much, because we fear God so little.” 

 G. K. Chesterton 

 

“A true opium of the people is a belief in nothingness after death - the huge solace of thinking that for our betrayals, greed, cowardice, and even murders that we are not going to be held to account.” 

Czesław Miłosz 

 

What a difference a day makes in these fickle, financialized markets.

Stocks managed to rally again today.  

Gold held its ground while silver managed to rally back from the engineered takedown on Monday.

The Dollar chopped sideways. 

We have so little shame, or sense and respect for what really matters.

But for what?  What? 

Most forfeit their souls for some passing vanity, in the long run is little or nothing, shameless and defiant.

And that willfulness is the real tragedy.

Have a pleasant evening.