13 January 2020

Stocks and Precious Metals Charts - Risk On - Sitting on Top of the World


“Man has places in his heart which do not yet exist, and into them enters suffering, in order that they may have existence.”

Léon Bloy

Fixing vintage plumbing in old houses can feel like fighting a land war in Asia.

My latest experience with this inconvenient entanglement with the unforgiving began last night, but seems to be winding down to a successful conclusion this afternoon.  Fingers crossed.

At least it took my mind off the head and chest cold that has been plaguing me since just after Christmas. Visitors from afar bring good company but strange maladies.

Stocks were relatively fearless from the opening, and yearned to rise higher for most of the day, ahead of the beginning of latest round of earnings announcements which begins shortly.

There will be a stock market option expiration on Friday.

Gold and silver were smacked lower as safe havens and risk avoidance became unfashionable, at least temporarily. There is also a tradition of smacking the metals the next trading day after a Non-Farm Payrolls report if they had been relatively unscathed on the day itself.

On a positive note I have to say that the NFL playoff games have been unusually engaging so far.

And of course tonight there is the National Championship for college football with Clemson v. LSU. Fire up the wings in the air fryer.

Need little, want less, love more.  For those who abide in love abide in God, and God in them.

Have a pleasant evening.






10 January 2020

Stocks and Precious Metals Charts - Payrolls and Wages Come in Light


"We shall not cease from exploring
And at the end of our exploration
We will return to where we started
And know the place for the first time
Through the unknown, unremembered gate."

T. S. Eliot, Little Gidding


“It's déjà vu all over again.”

Yogi Berra


"Gatsby believed in the green light, the orgastic future that year by year recedes before us. It eluded us then, but that's no matter—tomorrow we will run faster, stretch out our arms farther... And one fine morning——

So we beat on, boats against the current, borne back ceaselessly into the past."

F. Scott Fitzgerald, The Great Gatsby


Dickie:  Where are we going?
Stymie:   I don't know, brother, but we're on our way.

The Little Rascals, Free Wheeling

The Jobs Report came in somewhat tepid this morning and wages failed to achieve the sorts of level one would expect in a healthy economy.

Stocks gave up a bit of their recent march higher.

The dollar was off a bit.

Gold and silver gained back a little of what was given up in the massive bear raid from earlier in the week.

Let's see how things progress next week.

The weight of mismeasured risks still seems somewhat lightly regarded, especially with regards to geopolitical events.

Next week we will begin a new cycle of earnings announcements.

Have a pleasant weekend.


09 January 2020

Stocks and Precious Metals Charts - Lawlessness - Non-Farm Payrolls Report Tomorrow


"The sense of responsibility in the financial community for the community as a whole is not small.  It is nearly nil.  Perhaps this is inherent.  In a community where the primary concern is making money, one of the necessary rules is to live and let live. To speak out against madness may be to ruin those who have succumbed to it.  So the wise in Wall Street are nearly always silent.  The foolish thus have the field to themselves.  None rebukes them."

John Kenneth Galbraith, The Great Crash of 1929


“Beware of false prophets, who come to you in sheep’s clothing, but underneath are ravenous wolves. By their fruits you will know them. Do people pick grapes from thornbushes, or figs from thistles? Just so, every good tree bears good fruit, and a rotten tree bears bad fruit. A good tree cannot bear bad fruit, nor can a rotten tree bear good fruit."

Matthew 7:15-18


"Fear not, little flock, for your Father's delight is to welcome you into His Kingdom."

Luke 12:32

Stocks pushed higher again today, buoyed by the billions in cheap liquidity that the Fed has been delivering to Wall Street.

The hope is that the higher stock prices will insulate and validate Trumpolini as his impeachment trial approaches.  As for the rest of them it is greed, all the time, as always. 

Gold is holding support at 1550.  Let's see if it can continue to do so through the Non-Farm Payrolls report tomorrow.

Protect yourselves. And be cautious not only with your property, but more importantly, with your hearts and minds.

Have a pleasant evening.





08 January 2020

Stocks and Precious Metals Charts - Schlock and Awe - Hubris That Knows No Bounds


"It is a far, far better thing to have a firm anchor in nonsense than to put out on the troubled seas of thought."

John Kenneth Galbraith


“There are two ways to be fooled. One is to believe what isn't true; the other is to refuse to believe what is true.”

Søren Kierkegaard


"Nemesis, the goddess of retribution and vengeance, the punisher of pride and hubris, waits impatiently for her meeting with us."

Chalmers Johnson

If you ever wondered why the US encouraged and fostered the growth and maintenance of the Wall Street Banks, despite their corrupt and criminal excesses, now you know. They are the new dreadnoughts of global capitalism and financial warfare.

I don't want to appear gloomy or to waste time restating the obvious.

So I will only say that we have a long, difficult road ahead of us.

Have a pleasant evening.