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.

 

Stocks and Precious Metals Charts - Markets Fall on Triple Witching Expiration

 

It was a rough option expiration for the equity and metals markets today. 

Stocks were down sharply across the board. gold, silver, and their miners also took another hit. 

The Fed's Bullard provoked additional selling this morning with remarks that were interpreted as hawkish for interest rates. 

Let's say goodbye to this week, and good riddance. 

There will be a number of Fed heads speaking again next week.

There will be a option expiration on the Comex next Thursday the 24th.  

 Have a pleasant weekend.

Stocks and Precious Metals Charts - Ship of Fools - Stock Market Option Expiration Tomorrow

 

"The lofty mind of man can be imprisoned by the artifices of its own making.  If there are damned souls in Hell, it is because men blind themselves.”

E.A. Bucchianeri, Faust: My Soul Be Damned for the World

 

"Ship of fools on a cruel sea, ship of fools sail away from me. It was later than I thought when I first believed you, Now I cannot share your laughter, ship of fools."

Jerry Garcia and Robert Hunter, Ship of Fools

 

"I could stand in the middle of Fifth Avenue and shoot somebody, and I wouldn't lose any voters, OK? It's, like, incredible."

Donald J. Trump,  Dordt College, Sioux Center, Iowa.

 

"The banks must be restrained, and the financial system reformed, and balance restored to the economy, before there can be any sustained recovery." 

Jesse, July 2009 

 

It is good for the powerful and wicked few that the great majority of people are so easily fooled.

Stocks were mixed today, with the NDX soaring to a new all time high in the futures, with the more mundane stocks weak to unchanged.

Gold and silver were hit hard again.

The miners were hammered.

Must be an option expiration tomorrow.

The Dollar moved up to tuck in beneath the 92 handle.

The Yield curve flattened.

Shenanigans abounding.

Have a pleasant evening.