Stocks and Precious Metals Charts - Among Us

"Therefore, they must eat the bitter fruit of living their own way,
choking on their own schemes.
For fools turn away from the Lord to death.
Fools are destroyed by their own complacency."

Proverbs 1:31-32

Stocks were higher, going out near the highs. As I said, the anxiety of the big recent decline in stocks would be quickly forgotten.

Frothy is as frothy does. And this speculative excess will likely continue until stocks hit a hard wall, and collapse.

Gold and silver pushed higher on continuing dollar weakness. Uncle Buck was flirting with 88.50 at the close.

The economic data is decidedly mixed, and not all that bullish.

Have a pleasant evening.

Stocks and Precious Metals Charts - Hearts and Ashes

"Owe nothing to anyone, except for your obligation to love one another. For if you love the other, you will fulfill the requirements of God’s law."

Romans 13:8


"For God so loved the world that he gave his only begotten Son, that whoever believes in him shall not perish but have eternal life."

John 3:16

Stocks backed up and then took off after the CPI data came in 'higher than expected' this morning.

At first glance that seems counter-intuitive. A higher CPI will give the Fed more street cred in raising rates, which is what triggered this whole stock market correction in the first place right?

A closer look at the CPI data, the core CPI (ex food and energy), and especially the last month's revision, shows that at 0.3% core CPI did come in higher than the consensus forecast of economists at 0.2%.

However, in the month prior, that reading which had been 0.3% was revised significantly lower to 0.1%.

So as you can see, the CPI was much ado about not so very much. And stocks, looking at the data behind the headlines, took off like a scalded cat higher.

Why didn't any of the financial TV spokesmodels catch on to this rather glaring discrepancy with the headlines that they were reading. One can only wonder.

We can also see on the chart that the SP 500 and NDX futures have now retraced roughly 50% of the correction which they recently endured. Now we will see what this rebound is made of.

Gold and silver were strong today, largely off further Dollar weakness, as Uncle Buck continued taking the gas pipe down. I will post the updated Dollar chart later on.

So here we are, anticipating even more data later this week.

But the foundations of the equity markets are still rather flimsily made, and themselves standing loosely in sand.

Have a pleasant evening.

Stocks and Precious Metals Charts - CPI Tomorrow

"When you pray, do not be like the hypocrites,
who love to stand and loudly pray in their churches and on street corners
so that others may see them.
Amen, I say to you,
they have already received their reward.
But when you pray, go to a quiet room,
close the door, and pray to your Father in secret.
And your Father who sees all things will repay you."

Matt 6:5-8

And so today is already Mardi Gras, or Fat Tuesday.

And that means tomorrow is Ash Wednesday, the beginning of the 40 days of the Lenten vigil.

The queen and I attended a Mardi Gras celebration in New Orleans one year in the 1990's. I forget exactly when. It was for a corporate event at the Fairmont Hotel, right next to the route of the parade. I think I still have some plastic coins stashed in my desk somewhere as a memento.

And it is also St. Valentine's Day.  So don't forget that one guys.  I sent roses to some of the ladies who were of special help and comfort while the queen was having in-home hospice last year, a dark and concerning period of life.  They were like angels, and their unselfish kindness made a deep impression.  Some of them bordered on what I like to call heroic virtue.

It only takes a moment to say thank you to someone who deserves it. We are so often quick to criticize and find fault, but so ungrateful for the many, many little things that others do for us. And when we thank them we start to note the little good things, instead of swelling on a bunch of silly inconveniences.

No matter how difficult life may seem, God's angels are always about to help, as well as His tender mercies and consolations, if we are open to seeing them. God is always there, always listening. And when one door closes, another door opens.

The Dollar continued to go lower today, down to 89.60.

This had a positive effect on gold and silver.

Stocks had an upwards bias, but cautiously.

Tomorrow we will be getting the latest Consumer Price Index data. This is important because markets are concerned about the pace of interest rate increases by the easy money Fed, which is at the root of this latest financial asset bubble.

There will also be the Producer Price Index and the Em-Im prices data later this week.

And so we wait, with bated breath.

Just like we are still waiting for any genuine, significant evidence of 'Russian meddling' in the US elections, despite the continuous hysteria from the media.

Have a pleasant evening.

Stocks and Precious Metals Charts - A Nation Willfully Blind

"The 2008 financial crisis unleashed a chain reaction that turbo-boosted the influence of central bankers and triggered a massive shift in the world order. Central banks and institutions like the IMF are overstepping the bounds of their mandates and directing the flow of money without any checks and balances.  Meanwhile, the open door between private and central banking ensures endless manipulation against a backdrop of government support."

Nomi Prins, Collusion: How Central Bankers Rigged the World


Gentlemen! I  too have been a close observer of the doings of the Bank of the United States.  I have had men watching you for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country.

When you won, you divided the profits among you, and when you lost, you charged it to the Bank.  You tell me that if I take the deposits from the bank and annul its charter I shall ruin ten thousand families.  That may be true, gentlemen, but that is your sin!

Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves.   I have determined to rout you out, and by the Eternal, (bringing his fist down on the table) I will rout you out."

From the original minutes of the Philadelphia bankers meeting with President Jackson February 1834, from Andrew Jackson and the Bank of the United States (1928) by Stan V. Henkels

According to the spokesmodels "the correction is over and everyone is back into buying."

Maybe so.  But the market remains poorly founded, and vulnerable to even a relatively mild external shock.

When any market is this poorly regulated and overfed on hot money, one might well expect higher volatility and swings. 

Let's see how the CPI number comes in later this week.

And not ignore the low rumbling boil coming out of the Middle East.

The Dollar gave back some of its recent gains, falling from overhead resistance back down to the 90 area from 90.33.

Gold and silver drifted up a bit.  The stocks of physical gold available for immediate delivery remain rather low.

The huge 'infrastructure' proposal was the usual thinly disguised farce we have come to expect from a congress and white house with their noses firmly buried in the swamp of their big donors.

Have a pleasant evening.