20 April 2014

17 April 2014

Gold Daily and Silver Weekly Charts - Counting Blessings and Tender Mercies

The markets were quiet today for a stock option expiration ahead of a three day weekend.

Next Thursday there will be an option expiration on the Comex for precious metals on Thursday the 24th. I would expect it to be relatively quiet since May is not a major contract month.

There were more deliveries on the April contract declared, but little activity has been reflected in the Comex warehouses.

Every person must have a purpose that takes them outside of themselves.  And so I thank God for the opportunity to maintain this quiet corner of the internet for us, that He provides the time and the energy it takes to put it together, and the pull that brings people here to read and join in.

Every person must feel the warmth of human compansionship, and so I thank God for the readers' emails and the many friends with whom I share news, and comforts, and the occasional smile every day. 

Every person must come to understand themselves in context, and so I thank God for the good teachers and the business travel, the knowledge and the seasoning that can permit one to look at the troubles of our own time in the light of history, and know that these too shall pass.  There is nothing which we are called to face that has not been encountered by people just like us, with the same weaknesses and failings.   It is not only books but experience that teaches this to us, the commonality of all that is human.

As a very wise friend of mine recently said, 'the nature of my rebellion, is to rebuff the quiet overtures from heaven.'  There can be a certain sick sweetness in wallowing and worrying over not only what is real but is also imagined, and to try and bear the troubles of the world by ourselves.  But it is a sickness, unto death.
"Let us feel what we really are-  sinners attempting great things. Let us simply obey God’s will, whatever may come. He can turn all things to our eternal good. Easter day is preceded by the forty days of Lent, to show us that they only who sow in tears shall reap in joy.

Contemplate then yourself, not as yourself, but as you are in the Eternal God. Fall down in astonishment at the glories which are around you and in you, poured to and fro in such a wonderful way that you are dissolved into the Kingdom of God.

The more we do, the more shall we trust in Christ; and that surely is no morose doctrine, that leads us to soothe our selfish restlessness, and forget our fears, in the vision of the Incarnate Son of God.

May the Lord support us all the day long, till the shades lengthen, and the evening comes, and the busy world is hushed, and the fever of life is over, and our work is done. Then in His mercy may He give us safe lodging, and a holy rest, and peace at last.”
So let us pray for a serene vision of things as they really are, and that strength, which used to be called the virtue of fortitude, to never give in to the allure of falsehoods and the emptiness of despair.  The tomb is empty, and death is overthrown.

We are an Easter people, and hallelujah is our song.

Have a pleasant weekend.  See you Sunday evening.

SP 500 and NDX Futures Daily Charts - Quiet Trade On Options Expiration - Shamelessness

Today's stock market action was relatively quiet for an option expiration ahead of a three day weekend.

The economic news this morning was better than expected.

From the oligarchy is audacious department, the BP crisis manager was fined by the SEC for front running the Gulf Oil spill, selling all his family stock holding before the extent of the disaster was revealed.

The US markets will be closed tomorrow for Good Friday.

Have a pleasant weekend. See you Sunday evening.


16 April 2014

Gold Daily and Silver Weekly Charts - Hubris Incorporated

“I am telling you if there is a God, when I get to heaven I’m not stopping to be interviewed.  I am heading straight in. I have earned my place in heaven. It’s not even close.”

Michael Bloomberg, Billionaire Financier and Master of the Universe, I Have Earned My Place In Heaven

Ah, the rich miscalculating their fit through the eye of a needle.  Its an old, old story.  Memento mori.

I am sure he is not intending this seriously, and we ought not to take it as such.  As we should with most of the gauche things that he and his fellow financial sharpers and masters of the universe say.

Speaking of dull financial people miscalculating their place in the cosmos, this looks like it is going to be a dull week for the precious metals, except for the major bear raid yesterday.

Nothing much happened in the Comex warehouses yesterday. The number of ounces claimed in the April delivery continued on, reaching a total of 461,400 ounces for the month.  It will be interesting to see if anyone decides to actually do anything with them that will show up in the warehouse reports, or just continue to pass their warrants around like hot potatoes.

The Comex is becoming increasingly irrelevant to the world markets, and a bit of an anachronism in the current influence it still has over price.

Hubris.  It means that they never see it coming. That is what makes the reckoning so often spectacular.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Quiet Holiday Week, Before the Storms

VIX is back down to more complacent levels.

This is a holiday shortened week, with Friday trading closed for the Easter holiday.

Let's see if the traders can carry this rally into a three day weekend with the Ukraine bubbling along. I suspect that some squaring up may be in the cards.

Have a pleasant evening.


15 April 2014

Gold Daily and Silver Weekly Charts - From Sea to Shining Sea

"Plunderers of the world, when nothing remains on the lands to which they have laid waste by wanton thievery, they search out across the seas. The wealth of another region excites their greed; and if it is weak, their lust for power.

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. Robbery, rape, and slaughter they falsely call empire; and where they create a desolate wasteland, they call it peace."

Tacitus, Agricola

Today was an absolute classic.

From one market to the other, from one lie to the next, they seem to have no fear, and certainly no shame.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Another Turnaround Tuesday


How'd you like that market action today.  A Robert Rubin special with the SP futures leading the markets higher out of a deep hole on 'Turnaround Tuesday.'

A bewildered reader asks, 'Do they realize what they are doing?'

To which I responded, 'Let's keep this straight.  Almost by definition, sociopaths and narcissists really don't give a fuck what happens as long as they are getting what they want now.  And you wonder why things are as they are?'

Have a pleasant evening.