SP 500 and NDX Futures Daily Charts

The wash cycle looks almost done.

 

But it would not do to set a lower high, and they have some room left overhead.

 

The wheels are not quite falling off the economy yet.  But they seem to be on their way.

 

Let's see how many spins the old gal has left before the next rinse

 

Have a pleasant evening.

 

 

 

 

Les Confessions d'un Assassin Financier - At Home and Abroad

At Home

"And in some ways, it creates this false illusion that there are people out there looking out for the interest of taxpayers, the checks and balances that are built into the system are operational, when in fact they're not.

And what you're going to see and what we are seeing is it'll be a breakdown of those governmental institutions. And you'll see governments that continue to have policies that feed the interests of -- and I don't want to get clichéd, but the one percent or the .1 percent -- to the detriment of everyone else."

Neil Barofsky

Do you see why there is no real reform now?   Do you understand the hard  choice that a person of honour and conscience is given?  Who will make such an unfashionable choice when they have so few models to follow and almost no moral encouragement to find in this vile era of selfishness and greed? 

Do you understand now why laws that are widely opposed by the people like the secret pre-approval of the Trans-Pacific Partnership can be bullied through a Congress with an approval rating in the single digits, seemingly without a care?





And abroad

“There are two ways to conquer and enslave a country. One is by the sword. The other is by debt.”

John Adams

Do you see why suddenly a nation must be broken by fraud or by force and rebuilt, bent to the will of the powerful.  Why its people can be devastated by harsh policies that make no sense, its sovereignty replaced by a puppet regime, while its assets are privatized and sold?





And if a person follows their conscience and sacrifices greatly for the truth, do you offer any comfort and encouragement, or even a thought or a prayer for them? Are you capable of even caring? Or is it all just another opportunity to make some quick money for yourself?

Would it be any different, if instead of placing bets on the sickness and misery of women and children, you simply murdered them, and took their possessions for yourselves, and sold their clothes, even their teeth and their hair?

It is a hard world after all. And you would become truly exceptional then.

Gold Daily and Silver Weekly Charts - Forget Greece, Eyes On the Options

"Real consumption expenditures have yet to show signs of a significant pickup from a slowdown in winter."

NY Federal Reserve, US Economy In a Snapshot, June 2015

Today was certainly interesting.

Gold was hit fairly hard on the news that there is a 'deal with Greece.'

Stocks rallied, but then gave up quite a bit of it in the close.

And silver never really moved except for a little fakeout and then trended higher. What is up with that?

 

I think at least part of the reason is the huge open interest for gold in August.  And the expectations of a China announcement in the Autumn about their official holdings.

 

The structure of the options contracts is rather interesting as well.  There are quite a few option contracts in gold that are structured around the 1200+ level for the July 2015 calls as shown below.

 

I didn't see today as a fundamental move as much as a 'technical trade.'   The Bucket Shop will have its due.

 

Have a pleasant evening.