“One day, we will have to stand before the God of history. And we will talk in terms of things we've done. And its seems to me that I can hear the God of history saying, 'That was not enough. For I was hungry, and you fed me not. I was naked, and you clothed me not. I was devoid of a decent sanitary house to live in, and you provided no shelter for me. And consequently, you cannot enter the kingdom of greatness.'" Martin Luther King
“Empires die, like all of us dancers in the strobe lit dark.
See how the light needs shadows.”
David Mitchell
Stocks were a bit off today, as the risk on stampede cooled off a bit, as the bulls began to dwindle away for the long Summer weekend that they desire.
VIX ticked up a bit, as the buyers looked around themselves and saw how far they had come, and heard the snickers of the pros as they helped them to mount ever higher.
Tomorrow will likely be a sleepier day, with the adults gone by noon if not before.
For my own curiosity I compared them first for 2016 M-T-D, and threw in the price of gold just for a benchmark. Since this is only about seven months, I also did a straight up two year comparison. This pushes closer into OUNZ's start up period.
The results I found are below. By way of disclosure I have and have had positions in the Sprott Funds.
There are other factors for comparison that this does not consider. One needs to look at the details and their own requirements.
I suspect that PHYS is gaining slightly because of time on the market and economies of scale.
Stocks were in rally mode today, as it was risk on all the way.
The markets were cheered by Microsoft's results last night, and the love in between May and Merkel that is dispelling the Brexit fears.
After the bell today, Intel beat the numbers. However the markets were not impressed, as the numbers that INTC beat were recently lowered this week. It would have missed the numbers in place last Friday. Picky, picky.
Qualcomm and eBay were rallying after hours on their adjusted results.
Financial assets are in a bubble again, compliments of the Fed. It's what they do.
Too bad it does nothing positive for the real economy.
"You will find that the truth is often unpopular and the contest between agreeable fancy and disagreeable fact is unequal. For, in the vernacular, we Americans are suckers for good news."
Adlai Stevenson
Funny but most people these days are also suckers for bad news too, especially news that spells doom and gloom and grim warnings about the imminent decline of the world as we know it. There are web sites that seem to specialize in it.
Maybe its not that the news had to be good, or bad, but extremely good or extremely bad. Maybe that says something about how overwhelmed we are becoming by 'news' so that only the real shocks can get our attention.
Most of life is just doing your daily chores, finding grace in simple things, and waiting. What one is waiting for says quite a bit about who they are.
Gold and silver were drifting largely sideways today in what can best be described as the 'Summer trade.'
We may see a little more action next week with the option expiration. Or some exogenous event could certainly liven things up.
Positional trading is fine, but short term trading markets like these tends to exhaust the retail trader with commissions.
Put more simply, short term trading these dull markets is for suckers, and those who prey on them.
Let us pray for those whose hearts are hardened against His grace and loving kindness by greed, fear, and pride, and the seductive illusion and crushing isolation of evil.
We pray that we all may experience the three great gifts of our Lord's suffering and triumph: repentance, forgiveness, and thankfulness. And in so doing, may we obtain abundant life, and with it the peace that surpasses all understanding.
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