Stocks and Precious Metals Charts - Shenanigans

 

“Be kind, for everyone you meet is carrying a heavy burden.” 

Ian MacLaren 

 

“The books which the Holy Spirit is writing are the living, with every soul a volume in which the divine author makes a true revelation of His word, showing it to every heart, unfolding it in every moment.  

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.  All that takes place within us, around us, or through us, contains and conceals His divine action.  All simple souls must admire and respect one another, saying: 'Let us each proceed along our path to the same goal, united in purpose and by means of God's order which, in its great variety, is in us all.' 

To escape the pain caused by regret for the past or fear about the future, this is the rule to follow: 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

 

More of the same. 

This will probably continue until the option expiration. 

Cryptocurrencies are tulip bulbs, without the practical beauty. 

At some point the reversion to the mean is coming, and it may be a rough ride. 

Have a pleasant evening. 

 

Stocks and Precious Metals Charts - Risky Business

 

It was a long day for me, so just charts tonight. 

There will be a stock option expiration on Friday. 

 Have a pleasant evening. 

 

Stocks and Precious Metals Charts - Stock Option Expiration on Friday

 

“One reason we rush so quickly to the vulgar satisfactions of judgement, and love to revel in our righteous outrage, is that it spares us from the impotent pain of empathy, and the harder, messier work of understanding.  Let me propose that if your beliefs or convictions matter more to you than people—if they require you to act as though you were a worse person than you are—you may have lost perspective.” 

Tim Kreider 

 

“What comes out of a person, that is what makes them unclean.  From within people, from their minds and hearts, come wicked thoughts, immorality, theft, murder, adultery, greed, malice, deceit, licentiousness, envy, blasphemy, pride, and foolishness.  All these evils come from within and they make one unclean.”

Mark 7:20-23

 

“A proud man is always looking down on things and people; and, of course, as long as you are looking down, you cannot see something that is above you.” 

C. S. Lewis 

 

Stocks were initially weak, but managed to finish up in the green to unchanged.

How unusual. 

Gold and silver were under pressure all day, but managed to hold on to support.

The Dollar was unchanged.

There will be a stock option expiration on Friday.

 Have a pleasant evening.

 

Stocks and Precious Metals Charts - A Gathering of Vultures

 

"What is truth? said jesting Pilate, and would not stay for an answer."

Francis Bacon 

 

“Once they’re in power, narcissists consolidate their position by firing everyone who challenges them.  In their place rise a plague of toadies, opportunists, and enablers equally guided by self-interest and short on scruples.   So you end up with these individualistic cultures with no teamwork and low integrity."

Lee Simmons, Stanford Business School 

 

“Now we are witnessing a transformation: a true opium of the people is the belief in nothingness after death, the huge solace, the huge comfort of thinking that for our betrayals, our greed, our cowardice, our murders, that we are not going to be judged.” 

Czeslaw Milosz, The Discreet Charm of Nihilism 

 

"And they said to him, 'Where will this happen, Lord?' And He said to them, 'Where death is, there a gathering of vultures will be.'” 

Luke 17:37 

 

Stocks shook off the early morning inflation/interest rate concerns and managed to close higher.

Gold and silver also recovered quite a bit from their morning lows.

I was expecting a backfill and bounce after the  big  run higher to resistance yesterday, and that is what we got.

Gold still needs to crack higher over 1770, but if it can hold 1730 on the retests then that is fine.

The Dollar held on to the 92 handle.

The VIX dropped further.

There will be a stock market option expiration next week.

Have a pleasant weekend.

 

Stocks and Precious Metals Charts - Little Lord FedLeroy -The Pampered Princes of Wall Street

 

"In the last days there will be difficult times.    People will love only themselves and their money.  They will be boastful and proud, scoffing at God, disobedient to their parents, and ungrateful.  They will consider nothing sacred.

They will be unloving and unforgiving; they will slander others and have no self-control.  They will be cruel and hate what is good.  They will betray their friends, be reckless, be puffed up with pride, and love their own pleasure more than God.   They may act religious, but they will reject the grace that could make them righteous." 

2 Timothy 3:1-5

 

"The store-house cities [of biblical Israel] are an ancient parallel to the great banks and insurance houses where surplus wealth is kept among us. That surplus wealth, produced by the cheap labor of peasants, must now be protected from the peasants by law and by military force.

We labor and labor and labor for stuff that never satisfies us.  The market ideology is now the new form of imperial power and many of us, without any critical reflection, have signed onto that, and organized our lives in that way so we do not have any time, energy or capacity for the things that are rightly important to us, our human-ness." 

Walter Brueggemann, Truth To Power 

 

"And then many will fall by the wayside, and will hate and betray one another.  False prophets will arise, and lead the people astray.  And because of the increase in wickedness, the love of most will grow cold.  But those who stand firm in faithfulness to the end will be saved." 

Matthew 24:10-14

 

It was risk on again as stocks moved higher.

Gold and silver continued to move higher towards key resistance.

The Dollar slumped again, hanging on to the 92 handle.

VIX moved lower.

Have a pleasant evening. 

Stocks and Precious Metals Charts - On the Road to Emmaus - An Afternoon Boost from the Fed

 

“Fraud and falsehood only dread examination. Truth invites it.

Whoever commits a fraud is guilty not only of the particular injury to him who he deceives, but of the diminution of that confidence which constitutes not only the ease but the existence of society." 

Dr. Samuel Johnson 

 

"Price discovery is not a sexy function of markets, but it is critical to the efficient allocation of scarce capital and resources, and to the preservation of the long term wealth of investors and the economy as a whole.  If price discovery is compromised by manipulation, then we will all be gradually impoverished and the economy will be imbalanced and unstable." 

London Banker, Lies, Damn Lies, and Libor

 

Stocks were mostly unchanged, but with a slight risk on flavor after the release of the Fed minutes.

Big cap tech led the way up, with money coming out of the small caps in the Russell 2000.

Gold and silver ended mostly unchanged after a morning attempt to break up higher.

I think the chart is pretty clear what gold needs to do.  And silver will follow.

Let's see if they can get the job done.

The Dollar chopped sideways.

And the band played on. 

I think the chart shows the potential for gold to move to $4,000 within a few years at the most.

Have a pleasant evening.