Stocks and Precious Metals Charts - Ouch - Option Expiration Tomorrow

 

 

“Only fraud and falsehood dread examination.  Truth invites it.” 

Samuel Johnson 

 "A kleptocracy is sucking the life out of working men and women by force and fraud.  A group of sociopaths, who have committed one of the great crimes in history, not only blithely walk away with their loot unpunished, but come back to rob their victims once again, to finish the job.  And they gorge themselves on the public trust even while begrudging the widow her pittance, or trying to steal it.  They pervert and corrupt so many, filling their hearts with their passionate lies, appealing to what is the very worst in them.  They are truly a den of vipers and thieves." 

Jesse, September 2012

 

Stocks tried to rally but then fell back badly into the close. 

Lower lows were set, which is not constructive for bully.

Gold was off a bit, but silver managed to hold on to its gains.

The Dollar rallied back up towards 96.

Option expiration tomorrow.

It's a nice time to lay back and sit tight in cash.

Let's be careful out there.

Have a pleasant evening.

 

Stocks and Precious Metals Charts - Crossroads - The Existential Chartist

 

"One of the common failings among honorable people is a failure to appreciate how thoroughly dishonorable some other people can be, and how dangerous it is to trust them." 

Thomas Sowell 

 

I went down to the crossroad
fell down on my knees
I went down to the crossroad
fell down on my knees
Asked the lord above 'Have mercy now
save poor Bob if you please.'

Early this mornin'
when you knocked upon my door
Early this mornin', oh
when you knocked upon my door
And I said, 'Hello, Satan,
I believe it's time to go.'

Robert Johnson, Crossroads and Me and the Devil Blues 

 

Stocks are laying down on key support.

Gold and silver have rallied up to key resistance.

The Dollar is sliding sideways.

The VIX is runnning hotter.

The next two days will tell the story.

Option expiration for stocks on Friday.

All things considered, this can go either way. 

It's one of the challenges in playing a market dominated by the moneyed interests.

Have a pleasant evening. 

Stocks and Precious Metals Charts - Silver Surprise Surge - Stock Option Expiration on Friday

 

"A man is going on as usual; he comes home one day, and finds a letter, or a message, or a person, whereby a sudden trial comes on him, which, if met religiously, will be the means of advancing him to a higher state. 

Perhaps it may be the loss of some dear friend or relative through which the call comes to us; which shows us the vanity of things below, and prompts us to make God our sole stay.  We through grace do so in a way we never did before; and in the course of years, when we look back on our life, we find that that sad event has brought us into a new state of faith and judgment. 

We thought, before it took place, that we were serving God, and so we were in a measure; but we find that, whatever our present infirmities may be, and however far we be still from the highest state of illumination, then at least we were serving the world under the show and the belief of serving God. 

Or again, perhaps something occurs to force us to take a part for God or against Him. The world requires of us some sacrifice which we see we ought not to grant to it.  Some tempting offer is made us; or some reproach or discredit threatened us; or we have to determine and avow what is truth and what is error. We are enabled to act as God would have us act; and we do so in much fear and perplexity." 

John Henry Newman

 

It was clearly a risk off day in the markets, with the Dollar rallying, the VIX climbing, and stocks slumping, going out near their lows for the day.

The bellwether techs failed to make a higher high, and are threatening a lower low and perhaps a break to the downside.

Gold was trading weakly.

But silver popped up like a champ, taking out $23.50 and holding it.

Who would have thought that?

Let's see what the rest of the week brings.

And from the calendar at the end, we can see that it will be bringing a stock option expiration on Friday.

Have a pleasant evening.