Are You Not Entertained? – Stocks and Precious Metals Charts
Are You Not Entertained? – Stocks and Precious Metals Charts by Jesse – Jesse’s Crossroads Cafe’
“And the Lord came and called, “Samuel! Samuel!” And Samuel replied, “Speak, Lord, for your servant is listening.”
Then the Lord said to Samuel, “I am about to do something that will shock all those who hear of it. I am going to chastise Eli and his people for their continuing offenses against me. I have warned him that my judgment is coming.”
1 Samuel 3:10-12
Stocks were on a tear again today, finishing at new highs.
The rally was sparked by renewed enthusiasm for the corporate tax cuts. JP Morgan suggested in its earning report this morning that it sees upside from the tax reform bill.
Gold was also in rally mode, running up to the price resistance at 1340 after cracking through the intermediate trendline. Silver also rallied a little harder, taking back all the losses it had from earlier in the week, finishing in the black for another week of gains.
There will be a stock option expiration next Friday.
The stock market is frothy, and speculative frauds being tolerated, such as the meaningless name game with blockchain for quick stock gains,
There may be some drama next week, as the next deadline for the continuation of the US budget to avoid a government shutdown on the 19th.
Trump did a remarkably odd thing for a political leader. After strongly signaling to the Congress that he would approve a bipartisan compromise on immigration, as long as it contained provisions for border security, he ambushed a delegation presenting such a compromise in his office with two virulently anti-immigration Congressmen, and dismissed their compromise out of hand. It was then he resorted to some particularly harsh language aimed at the lottery provision that reverberated in condemnations around the globe.
This may be an effective tactic in hardball negations in NY business deals, where one has the upper hand with their contractors, for example. Some joker at one of our suppliers pulled that stunt on me in my corporate career. The way he put it to a colleague, who told me later, is that he liked to punch his opponent in the stomach, and then say, ‘let’s race!’