Stock and Precious Metals Charts – The Dark Night of the Soul

‘Be kind, for everyone you meet is carrying a heavy burden.’
Ian MacLaren
‘There is not a moment in which God does not present Himself under the cover of some pain to be endured, of some consolation to be enjoyed, or of some duty to be performed. All that takes place within us, around us, or through us, contains and conceals His divine action. All simple souls must admire and respect one another, saying: ‘Let us each proceed along our path to the same goal, united in purpose and by means of God’s order which, in its great variety, is in us all.’’
Jean-Pierre de Caussade
The Trump trade blinked a bit today, as stocks gave up some of their phenomenal gains on doubts about the presidential ban on visitations from seven countries which had been identified by the prior administrations as high risk locations for terrorists.
While this act was sweeping and lacked finesse, operationally clumsy to say the least, the reaction to it was just about as dramatic, including tears. Well, that’s politics in the 21st century. And I am sure we will see much more of this sort of thing over the next few years.
We are going to learn more about ourselves than we may have expected. There is nothing new in this; it is the particular experience of about every other generation and their own ‘rendezvous with destiny.’ How can we be content when the choices are between the ‘lesser of two evils.’ They are both evil, and many including me are not happy about it – but it is what it is.
Gold and silver were struggling to make some gains, and ended the sessions largely unchanged. Stocks managed to claws back some of their earlier losses. What a surprise. The warehouses are pretty much in a lockdown on the Comex. I find it to be rather uninformative compared to the real markets in Asia which unfortunately are a bit more opaque.

This post was published at Jesses Crossroads Cafe on 30 JANUARY 2017.