Stocks were off a bit today.
Gold and silver were lower.
The miners were sold.
The Dollar was unchanged.
FOMC decision tomorrow.
Stock option expiration on Friday.
Have a pleasant evening.
What is a proper disposition towards life? It is to accept God as a loving father, who is full of tenderness and forgiveness for us, despite our willful blunders and hardened hearts. He yearns for us, as a father and mother yearn for the return of their most beloved child. It is to accept that we are not lost, we are not abandoned. We are wandering like a wayward child, full of our own headstrong delusions. And our father waits expectantly, calling out for us through the darkness. Jesse, 2018
Stocks were off a bit today.
Gold and silver were lower.
The miners were sold.
The Dollar was unchanged.
FOMC decision tomorrow.
Stock option expiration on Friday.
Have a pleasant evening.
“Fraud and falsehood only dread examination. Truth invites it.
Whoever commits a fraud is guilty not only of the particular injury to him who he deceives, but of the diminution of that confidence which constitutes not only the ease but the existence of society."
Samuel Johnson
Stocks were on a late afternoon tear, led by the real meme stocks, the big cap techs.
The Dollar edged a bit lower.
The VIX show a decline in the perception of risk. Or at least an increase in the mispricing of it.
Gold and silver were hit very hard in the quiet overnight trading.
They recovered quite a bit from the overnight losses, but still finished the day a bit lower.
The big tickle this week is the FOMC meeting on Wednesday.
This is a non-organic economy, and the stock market reflects that fully in its lack of value fundamentals and underpinnings.
One of the best indicators of this is the current declines in the velocity of money. There is very little organic growth from the money the Fed is throwing at the financial system and their patrons in one percent.
I doubt it will happen, but if M2 Velocity approaches zero the risk of a more serious monetary inflation becomes much greater. Tra la.
Adding to the state of shenanigans, there will be a stock market option expiration on Friday.
A bloodbath is coming in financial asset valuations. It is a matter of time now.
Probably later this year, or next, depending on how long the moneyed interests and their financiers can keep the long con going.
They will be weighed, and found wanting. And no one could have seen it coming.
Have a pleasant evening.
"A highway will be there, called the holy way;
Isaiah 35:8
"You are the very cause of your ignorance, yourselves. You put away the light, yourselves; you first pluck out both your own eyes, yourselves; and after that other men’s too, so that the blind may lead the blind, until you both fall into the pit.”
Thomas More
"How vainly seek
The selfish for that happiness denied
To aught but virtue! Blind and hardened, they,
Who hope for peace amid the storms of care,
Who covet power they know not how to use,
And sigh for pleasure they refuse to give,--
Madly they frustrate still their own designs;
And, where they hope that quiet to enjoy
Which virtue pictures, bitterness of soul,
Pining regrets, and vain repentances,
Disease, disgust and lassitude pervade
Their valueless and miserable lives."
Percy Bysshe Shelley, Queen Mab
Stocks were just oscillating around in lackluster and largely meaningless trading.
A last minute goose higher into the close gave the spokesmodels an excuse to pump their pom-poms for a 'record close' on the cash SP 500.
Huzzah.
Gold was lower on the Dollar cross.
Silver eventually followed.
There will be a stock market option expiration next week.
Have a pleasant weekend.
"And yet wisdom is justified by all her children.”
Luke 7:35
"There are people everywhere who want to convince you of the wisdom of their opinion. It is not the one who declares his viewpoint the most loudly or vociferously who is the wisest, but the one who is vindicated over time.
Wisdom is not proven by argument or debate. Wisdom is proven over time. Some people adamantly proclaim that their opinion is best. Regardless of how convincingly these people defend their viewpoint, time is the best judge of their wisdom.
If you wait patiently, time will reveal the wisdom of your actions far better than you could through argument."
Henry Blackaby, Wisdom Justified
The markets viewed the consumer inflation data this morning as a passing phenomenon, given the huge plunge in the economy last year, and the current revitalization with the vaccinations.
The big cap tech NDX led the charge higher for stocks, going out on the highs.
Gold and silver also advanced, finishing near their highs for the day, but still just short of breakouts.
Let's see how we finish out the week.
Stock option expirations next week.
Have a pleasant evening.