Stocks and Precious Metals Charts - Delusion in the Domain of Pride

 

Uncle Thug

"I urge you, brothers and sisters, to be wary of those who cause divisions and undermine the faithful, in opposition to the teaching that you have learned.  Do not associate with them.  For such people do not serve our Lord, but their own appetites.  And by clever words and flattery they deceive the hearts of the innocent and naive." 

Romans 16:17-18 

 

 "Let no one deceive you with empty arguments, for because of these things the wrath of God is coming upon the followers of lawlessness.   Do not be associated with them. For once you were in darkness, but now you are in the light of the Lord, so walk as the children of light, for light is found in every kind of goodness and righteousness and truth.  Try to learn what is pleasing to the Lord.  Take no part in the worthless acts of darkness; but rather expose them.  It is shameful even speak of those things done by them in secret, but everything that is exposed by the light will become known." 

Ephesians 5:6-12 

 

"The wealth of another region excites their greed; and if it is weak, their lust for power as well. Nothing from the rising to the setting of the sun is enough for them. Among all others only they are compelled to attack the poor as well as the rich. Plunder, rape, and murder they falsely call empire; and where they make a desert, they call it peace." 

Tacitus

 

On Friday I asked rhetorically, 'where is the risk in these markets?'

And here it was today.

Stocks flopped fairly hard from the open, and lost ground for most of the day.

Some determined dip buying brought them back off the lows of the day.

The VIX, a measure of volatility, raised its head quite sharply above its 200 DMA, which had marked its upper bound in a trading range for some time.

The Dollar and gold fared reasonably well as safe havens. Silver not as much.

Denial and delusion is quite prevalent in many circles.

This is as old as Babylon, and evil as sin.   It is the power of the darkness of the world, and of spiritual wickedness in high places.  The difference is that it is not happening in some other place, or in a book, or as forewarned in some vaguely distant prophecy— it is happening here and now.

People will come back to their sense, but slowly, and one at a time.

Have a pleasant evening.

Stocks and Precious Metals Charts - These Violent Delights

 

"The world is ours, we are its lords, and ours it shall remain. As for the host of labor, it has been in the dirt since history began, and I read history aright. And in the dirt it shall remain so long as I and mine and those that come after us have the power. There is the word.  It is the king of words— Power.  Not God, not Mammon, but Power.  Pour it over your tongue till it tingles with it.  Power.”

 Jack London, The Iron Heel 

 

 "No one can serve two masters, for he will hate the one and love the other, or he will be devoted to the one, and be neglectful of the other; and so you cannot serve both God and Mammon." 

Matt 6:24 

"These violent delights have violent ends And in their triumph die, like fire and powder, Which, as they kiss, consume."

William Shakespeare,  Romeo and Juliet

 

Stocks had another ranging day, from the highs to the lows, managing to finish up nearly unchanged.

 Gold, silver, and The  Dollar edged slightly lower.

The VIX was lower.

Where's the risk?   Not reflected in the markets it appears.

Have a pleasant weekend.

Stocks and Precious Metals Charts - In Times of Plague - Global Financial Crime Cartels

 

"Narcissists are unstable and go through repeated cycles of self-destruction, with other people usually paying the heft of the price.  They are aware of what they are doing to others — but they do not care. Narcissists tend to be divisive, vindictive, confrontational, aggressive, hate-filled, raging, incoherent, judgment-impaired, and irrational." 

Sam Vaknin,

 

“A narcissist paints a picture of themselves as being the victim or innocent in all aspects.   They will be offended by the truth.” 

Karla Grimes

 

“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 "

 

Do you not know that to whom you give yourselves as servants, his servants you become, whether of a corruption unto death, or of a righteousness unto life?" 

Romans 6:16 

 

It was the old sector shift in stocks again today, as small caps and financials led the charge higher, while the big cap techs languished.

 Gold and silver were hit hard, and the Dollar had a countertrend rally.

Notice how nicely gold is holding to a chart pattern.  

Let's see how that develops with time.

Goldman Sachs pled guilty and paid a 2.9B fine in the largest foreign bribery crime in US history.

The heart of our financial system is being run by cartels of serial felons.   What could go wrong?

Demented Donny and Tourette Joe will take the stage in Nashville tonight for a debate. lol

The World Series is taking a break tonight, but there is always Thursday Night Football.

And lots of B grade horror films in the lead up to Halloween.

Have a pleasant evening. 

Stocks and Precious Metals Charts - Blue Skies

“Unlimited power in the hands of limited people always leads to cruelty.”

Aleksandr Solzhenitsyn 

 

“Nature doesn't ask your permission; it does not care about your wishes, or whether you like its laws or not.   You're obliged to accept it as it is, and consequently all of its consequences as well.”

Fyodor Dostoevsky 

 

"Foolishness has a knack of getting its way; as we should see if we were not always so much wrapped up in ourselves. In this respect our townsfolk were like everybody else, wrapped up in themselves; they did not believe in plagues." 

 Albert Camus 

 

Stocks did another pop and flop again today.

The futures were up overnight, but the cash market faded away in the afternoon.

Hopes about a stimulus deal and happy days fuels optimism in the lightly traded markets, but then fades in the harsh light of day.

There seems to be a lot of this going around. 

Gold and silver rallied higher, as the Douleur du Monde slumped lower again.

Mapo tofu is on the menu for dinner this evening.  

If Pelosi and Mnuchin announce a stimulus deal, expect the markets to rally, even if the deal is blocked by the do-nothing coalition under Mitch in the Senate.

They are faithful servants to the powerful moneyed interests.

Have a pleasant evening.