Stocks and Precious Metals Charts - Nobody Wins Unless Everybody Wins

"Even in a time of elephantine vanity and greed, one never has to look far to see the campfires of gentle people. Lacking any other purpose in life, it would be good enough to live for their sake."

Garrison Keillor, The Prairie Home Companion

I spent much of the afternoon picking up my in-laws from Ohio from their cruise up the East coast. So I missed some of the antics, in New York and Washington.

They were on a 'fall foliage' cruise that left a couple of weeks ago from Port Liberty, but this year the leaves are turning late. If they are falling here it has been from a recent lack of rain. And they tell me that they did not see the leaves turning color on the cruise until they reached Quebec. Even in Maine, in the coastal cities at least, autumn's paintbrush has not yet been unleashed.

We loved to visit Quebec City. We used to drive up there by car every other year or so. The city is beautiful and the people are cordial and most often kind. And the drive up to Montreal was always a nice one particularly in the autumn. We often stopped for an overnight at Lake George.

I have literally never been to Maine. Their cruise stopped in Portland, Rockland, and Bar Harbor. They had a nice time at each place, and again, the people and the atmosphere is wonderful. And apparently the price and quality of the lobsters is equally impressive. For that I miss my days as a computer science student in Boston.

When I was a little boy I kept my 'treasures' in a small cedar box with Bar Harbor Maine on it. It was a souvenir from my parent's honeymoon. The queen and I had intended to take a long drive that way after retirement, but it never really worked out that way. As Thomas à Kempis noted long ago, man proposes, but God disposes.

Stocks were rising today, but I won't call it a rally so much as a quiet rising in a quiet market. Gold and silver also caught a bid and managed to creep back towards the resistance levels from which they were recently turned back.

I have been thinking of how gold and silver might react if there were a seasonal downturn in the stock markets, perhaps in reaction to some catalyzing event. I think it will depend on the cause and nature of the decline. This presupposes of course that there will be a decline. I am sure we are comfortable with forecasts of permanent prosperity.

Blaise Pascal observed that “All of humanity's problems stem from a man's inability to sit quietly in a room alone.” Someone should have that made into a plaque, and place it prominently on Donald Trump's desk.  Or perhaps at his bedside, or wherever it is he decides to put his fingers to the keyboard.

Have a pleasant evening.

Stocks and Precious Metals Charts - One More Silver Dollar

"Now is our chance to choose the right side. God is holding back to give us that chance. It won't last forever.
Aim at heaven and you will get earth thrown in. Aim at earth and you get neither."

C. S. Lewis

Have a pleasant evening.

Stocks and Precious Metals Charts - Wooly Bully

“Politicians were mostly people who'd had too little morals and ethics to stay lawyers.”

George R.R. Martin


“The main problem in any democracy is that crowd-pleasers are generally brainless swine who can go out on a stage and whip their supporters into an orgiastic frenzy— then go back to the office and sell every one of the poor bastards down the tube for a nickel apiece.”

Hunter S. Thompson


"This idea that you can't be an honest man and a Washington politician is a myth, a crock made up by sellouts and careerist hacks who don't stand for anything and are impatient with people who do. It's possible to do this job with honor and dignity."

Matt Taibbi

It was a less risk prone day in the markets, with the trading light because of the Bank and Bond holiday in honor of Christopher Columbus.

Bully seems to be engaging in some retrospection just ahead of earnings.

I have put a special, shorter version of the gold chart up first in the charts below. Look at the recent trading bottoms we have formed in the price of gold in the past year. I have circled them for your viewing pleasure. Do you see anything that might appear to represent some commonality?  What a coincidence!

Ideology, as expressed in glib phrases, is one of the great impediments to independent thinking and, thereby, often valuable knowledge. You know, things like, 'markets are by their nature efficient because of their size and diversity of participants'  or 'the denizens of Wall Street are rational and honest businessmen that have been corrupted by government.'

Some remnants of a hurricane blew through our area this afternoon, bringing us some much needed rain.

Have a pleasant evening.

Uno, dos, one two tres quatro...

Stocks and Precious Metals Charts - Not With a Bang But a Whimper - Dedicated to the One I Love

"When swept out of its normal channel, life scatters into innumerable streams.  It is difficult to foresee which it will take in its treacherous and winding course.  Where today it flows in shallows, like a rivulet over sandbanks, so shallow that the shoals are visible, tomorrow it may flow richly and fully."

Mikhail Sholokhov, And Quiet Flows the Don


“For the bullshitter, however, all bets are off: he is neither on the side of the true nor on the side of the false.   His eye is not on the facts at all, as the eyes of the honest man and of the liar are, except insofar as they may be pertinent to his interest in getting away with what he says.   He does not care whether the things he says describe reality correctly.   He just picks them out, or makes them up, to suit his purpose.”

Harry Frankfurt, On Bullshit


"This is the way the world ends
Not with a bang but a whimper."

T. S. Eliot, The Hollow Men

As you have probably heard the Non-Farm Payrolls report was a mixed bag. There was a seasonally adjusted net loss of jobs, which was certainly unexpected.

But miraculously, the unemployment rate dropped, and the wages increased much more than expected.

Now how about that for a counter-intuitive set of data.

The markets were not sure what to make of it. They have of late been asked to digest quite a bit of what Harry Truman called bushwa. 

We produce so much bushwa now that we are exporting the stuff, in the form of financial assets and obligations.  We have even selected its high priests and exceptionally gifted practitioners as our organizers and leaders.

We are the hollow men, the hope only of empty men, hearts and heads filled with straw.

For Thine is the Kingdom, the power and the glory.

Have a pleasant weekend.

Stocks and Precious Metals Charts - Harvest Moon

Under the harvest moon,
When the soft silver
Drips shimmering
Over the garden nights,
Death, the gray mocker,
Comes and whispers to you
As a beautiful friend
Who remembers.

Under the summer roses
When the flagrant crimson
Lurks in the dusk
Of the wild red leaves,
Love, with little hands,
Comes and touches you
With a thousand memories,
And asks you
Beautiful, unanswerable questions.

Carl Sandburg


"If the two great semantic beacons of our time are the terms 'transition' and 'crisis,' then a third term is perhaps necessary to capture the special quality of this transition and this crisis.  That term—the third semantic beacon—is 'alienation.'   It expresses a unique facet of the crisis of our times: the widespread belief that there has been a revolutionary change in the psychological condition of man, reflected in the individual’s feeling of isolation, homelessness, insecurity, restlessness, anxiety."

Nathan Glazer, The Alienation of Modern Man, 1947

I'm posting a little early today because I have things to do outside.

It was a 'risk on' day all the way, with the shorts being properly squeezed in stocks.

And with a risk on day, and ahead of non-farm payrolls, gold took a hit, while silver remained largely unchanged.

We will be enjoying a harvest moon tonight.  &nbsp

It is an uncommon gift, even in our modern alienation from nature.  For we have for the most part lost our relationships with all that does not bend easily to our will, and provide an opportunity for a quick profit.

Perhaps alienation, a notion so last century as to seem almost quaint now, is not the right term to use for our elite and the post-modern world.  We are not aware enough to feel alienated; we are insensate, and our existence is a series of meaningless, impersonal transactions, ruled by Mammon.

Or perhaps we can skip thinking and feeling anything,  and sell each other 'moon glasses.'

Have a pleasant evening.