Stocks and Precious Metals Charts - Gold and Silver Mugged On Dollar Rally

 

"Every century is like every other, and to those who live in it seems worse than all times before it.  The Church is ever ailing, and lingers on in weakness.  The cause of Christ is ever in its last agony, as though it were but a question of time whether it fails finally this day or another.

The Saints are ever all but failing from the earth, and Christ all but coming; and thus the Day of Judgment is literally ever at hand; and it is our duty ever to be looking out for it, not disappointed that we have so often said, 'now is the moment,' and that at the last, contrary to our expectation, truth has somewhat rallied."

John Henry Newman, Via Media

 

I am posting the charts early tonight and will skip the commentary, except to note the mugging of gold and silver this morning, the rise in the Dollar, on some perception about interest rates. 

Some of the miners took an extra hit over their exposure to the political unrest in Guinea.

Stocks were off but the big cap techs managed to keep on trucking. 

Today smells like teen spirit, and a technical trade after the shock Jobs Report.

I am going to see an oral surgeon (for the first time) and doubt I will feel like posting anything later. It's only one tooth that went bad under a crown but still...   Ugh.  

Have a pleasant evening.

 

 

 

 

Stocks and Precious Metals Charts - Precious Metals Soar as Weakness of Recovery Data - Holiday Weekend

 

"Gold has worked down from Alexander's time.  When something holds good for two thousand years I do not believe it can be so because of prejudice or mistaken theory."  

Bernard M. Baruch

 

“When the system is rigged, when ordinary citizens are powerless, and when whistle-blowers are pariahs at best, three things happen.  First, the worst people rise to the top.  They behave appallingly, and they wreak havoc.  Second, people who could make productive contributions to society are incented to become destructive, because corruption is far more lucrative than honest work.  

And third, everyone else pays, both economically and emotionally; people become cynical, selfish, and fatalistic. Often they go along with the system, but they hate themselves for it. They play the game to survive and feed their families, but both they and society suffer.” 

Charles H. Ferguson, Inside Job 

 

Misdeeds, once exposed, have no refuge but in audacity. And they had accomplices in all those who feared the same fate.” 

Tacitus, Annals 

 

It appears that there is a dwindling and overleveraged supply of gold and silver heading towards an unmanageable and relentless source of demand.

Or in other words, exhaustible supply meets seemingly insatiable demand.

Gold and silver rallied strongly on the much weaker than expected Jobs Report.

 The recent and illegal Dr. Evil smack down in prices comes full circle, once again. 

What a surprise. 

The assumption by the markets is that the weakness of The Recovery^TM will keep the Fed on the sidelines except for the occasional symbolic effort and jawboning.

Stocks had another ranging day, giving 'investors' vertigo.

The SP 500 could not quite regain the green, finishing slightly lower for the day.

The bubble marquee stocks ended slightly higher.

There will be a Labor Day holiday in the US on Monday, so those markets will be closed.

Have a pleasant weekend.

 

Stocks and Precious Metals Charts - As Time Goes By

 

Stocks were mixed today, with a divergence between the SP 500 and the big cap tech divas.

Gold and silver were lower.

The Dollar fell closer to the 92 handle.

We had quite the weather event, with the remnant of Tropical Storm Ida dumping eight inches of rain on our area.

We are fortunate to live on high ground.   South of here along the Raritan river the flooding was catastrophic.

It's always something.

Here's looking at you, kid. 

Have a pleasant evening

 

Stocks and Precious Metals Charts - The Gathering Storm

 

"Sometimes I wonder whether the world is being run by smart people who are putting us on, or by imbeciles who really mean it." 

Mark Twain

 

“Many of our most vaunted innovations are simply methods -- electronic or otherwise -- of pulling off some age-old profit-maximizing maneuver by new and unregulated means.” 

Thomas Frank 

 

“The combination of power, optimism and abstract thinking makes powerful people more certain. The more cut-off they are from others, the more confident they are that they are right.” 

Margaret Heffernan, Willful Blindness

 

The heart of the rain that is Tropical Storm Ida is rolling over us now.  

I was down the street helping a neighbor get some things ready. 

We have active flash flood and tornado warnings.

Stocks reached for another high note today, but fell back to the earth and mostly unchanged into the close.

Gold ended up flat while silver managed to hang on to a decent gain.

The Dollar was just a bit lower.

All eyes are on the Non-Farm Payrolls report on Friday.

The markets seemed to just shake off the big disappointment in the ADP private employment report today.

This market makes me a bit edgy.   I am out of all positions in the my trading account, keeping cash on hand.

Have a pleasant evening.