Stocks and Precious Metals Charts - Come and See

 

"At times our own light goes out and is rekindled by a spark from another person.  Each of us has cause to think with deep gratitude of those who have relighted the flame within us."

Albert Schweitzer


“The will of God presents itself at every moment like an immense sea that your heart cannot exhaust. There is not a moment in which God does not present Himself under the cover of some pain to be endured, of some consolation to be enjoyed, or of some duty to be performed. 

Leave the past to the infinite mercy of God, the future to His good Providence, and give the present wholly to His love by being faithful to His grace.”

Jean-Pierre de Caussade, L'abandon à la Providence Divine


"The blessed John the Evangelist lived in Ephesus until extreme old age [age 94 c 100 AD).  His disciples could barely carry him to church and he could not muster the voice to speak many words.  During individual gatherings he usually said nothing but, 'Little children, love one another.'  

The disciples and brothers in attendance, annoyed because they always heard the same words, finally said, 'Teacher, why do you always say this?'  He replied with a line worthy of John: 'Because it is the Lord's commandment, and if it alone is kept, it is sufficient.'"

Jerome, Commentary on Galatians, based on the commentaries of Origen of Alexandria


Stocks went on a 'risk on' tear higher, with the VIX dropping down hard to its longer term moving average.

Apparently the concerns about a 100 basis point interest rate increase at the next Fed meeting has receded since the other day.

And surprise, the Fed Inspector General has found nothing amiss with 'Fed governors doing millions of short term transactions in the futures markets for their personal accounts.

Nothing to see here, move along.

Shameless.

Gold slumped again despite the big drop in the Dollar.   Silver rode higher with stocks.

One might suspect a short term bottom is underway, at least until the next Comex options expiration on June 26^th.

Have a pleasant weekend.

Stocks and Precious Metals Charts - Avoir la Pêche

 

“Joy is based on the spiritual knowledge that, while the world in which we live is shrouded in darkness, God has overcome the world.  Joy does not simply happen to us.  We have to choose joy, and keep choosing it every day.”

Henri J.M. Nouwen


"Man is nourished by the invisible, man is nourished by that which is beyond the personal.  He dies from preferring the opposite."

Jacques Lusseyran, Poetry at Buchenwald


“Joy is sometimes a blessing, but it is often a conquest.”

Paulo Coelho


“Joy dwells in the innermost part of the soul; it can be found in a dark prison as well as a palace.”

Marie-Françoise Thérèse Martin de Lisieux


"The most beautiful and natural expressions of joy which I have seen in my life were in poor people who had little to hold on to.  I also think of the real joy shown by others who, even amid pressing professional obligations, were able to preserve, in detachment and simplicity, a heart full of faith. 

Thanks solely to this encounter with God’s love, which blossoms into an enriching friendship, we are liberated from our narrowness and self-absorption.  We become fully human when we become more than human, when we let God bring us beyond ourselves in order to attain the fullest truth of our being.

Jorge Mario Bergoglio


“The real conflict is the inner conflict.   Beyond armies of occupation and the catacombs of extermination camps, there are two irreconcilable enemies in the depth of every soul: good and evil, sin and love.  And what use are the victories on the battlefield if we are ourselves are defeated in our innermost selves?”

Maximilian Kolbe

 

Joy is not a goal or a destination.  Joy is a way of life which we choose by letting go of our self-absorption and pride.

Stocks slumped hard again on concerns about the economy and inflation.

But wonderful to be seen, they rallied again to a little green or unchanged in the quiet trading in the afternoon when the rest of the world has gone to sleep.

Gold and silver were hit hard once again.

Stock option expiration and all that nonsense about disappearing physical inventories in Asia, and the need to scrape the ETFs in the land of hidden leverage..

We appear to be heading into the stagflation I forecast around the end of the last great bubble. The monetary and government policy choices were obviously heading in that direction.

I made a lemon ricotta and marscapone tart today for the first time, as a dessert for our dinner of barbecued chicken and zucchini au gratin.  

The garden is producing bountifully.   We just finished using the last jar of tomatoes we put up from the previous year.

Small graces and tender mercies.

The meme among the walking dead of Wall Street is that this current crisis and stagflation is a result of the stimulus which was given to the public in the form of hundred dollar checks and unemployment relief during the Covid lockdowns.  

Certainly it has nothing to do with the billions in tax cuts for corporations and the wealthy, and trillions in printed money that were given by the Fed to their cronies on Wall Street, in order to foment the bubble in financial assets and another epic transfer of wealth.

They really are shameless.   As old as Babylon, and evil as sin.

Have a pleasant evening.

Stocks and Precious Metals Charts - The Appearance of a Crash in Slow Motion

 

"Through a set of economic policies designed to bail out and subsidize failed and often tainted corporate enterprises, while actively promoting a false sense of confidence to support those policies, the public has become exposed, by those very people entrusted to protect them, to dangerously high levels of hidden counterparty risks.

The cautionary functions of the media, the political class, and the regulatory bodies have been routinely directed, distorted, and even silenced for the benefit of a highly compromised and increasingly self-serving elite. And this corruption has begun feeding on its own momentum, resulting in increasingly blatant examples of deception, distortion, and outright theft. This is crony capitalism, and its deadly credibility trap."

Jesse, April 2012


"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.

In the Incarnation the whole human race recovers the dignity of the image of God. Thereafter, any attack even on the least of men is an attack on Christ, who took on the form of man, and in his own Person restored the image of God in all.

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 solidarity with all mankind."

Dietrich Bonhoeffer


"They run all away, and cry, 'the devil take the hindmost'."

Beaumont and Fletcher, Philaster, or Love Lies a-Bleeding


The mighty rise, and are fallen, forgotten— but the word and the spirit endure. 

Stocks had another wide ranging day, and slumped ja little into the close.

Gold and silver caught a bounce after their recent shellacking.

The Dollar backed off the 108 handle just a little.

I redid the Crashtrak profile for the 2022 decline as I had suggested I might.

I am now using the mid June decline as the second low.

So bully has the rest of the summer perhaps to try and put together a sustainable rally and make a stronger attempt to exceed that second high and take the model off the charts.

The timeframes are well stretched, so if this is a crash, it is a crash in slow motion.

Have a pleasant evening.

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Stocks and Precious Metals Charts - Darkness Rising - Index Option Expiration Friday

 

"In order that the deception may succeed it must be habitual and uninterrupted."

William Hazlitt


"If at the start this cancerous growth in the nation was not particularly noticeable, it was only because there were still enough forces at work that operated for the good, so that it was kept under control.  As it grew larger, however, and finally in an ultimate spurt of growth attained ruling power, the tumor broke open, as it were, and infected the whole body.    The greater part of its former opponents went into hiding.  The German intellectuals fled to their cellars, there, like plants struggling in the dark, away from light and sun, gradually to choke to death.

Now the end is at hand.  Now it is our task to find one another again, to spread information from person to person, to keep a steady purpose, and to allow ourselves no rest until the last man is persuaded of the urgent need of his struggle against this system.  When thus a wave of unrest goes through the land, when 'it is in the air,' when many join the cause, then in a great final effort this system can be shaken off."

White Rose, Second Leaflet, Munich, 1942


"The period of financial distress is a gradual decline after the peak of a speculative bubble that precedes the final and massive panic and crash, driven by the insiders having exited but the sucker outsiders hanging on hoping for a revival, but finally giving up in the final collapse."

Charles Kindleberger

 

Stocks slumped back down to support.

Gold and silver were hit hard once again.

As a reminder there is an option expiration on Friday.

A big slug of physical showed up in Hong Kong to replenish their dwindling inventory.

Funny how this always seems to happen after a major raid on the price of gold in London and New York.

Gold is moving from West to East, and it may not return in our lifetimes.

The Dollar closed once again just shy of the 108 handle on the DX index.

VIX moved slightly higher.

The banksters are going to be launching their own national stock exchange MEMX.

Have a pleasant evening.