Peering ahead at the day, we see that Gold is down about $16 bucks going into the U.S. open (no, not of golf!).
This will place gold at $1,754.70 according to the Kitco charts.
Let us do the math for you on how Ure’s Crazy Values Theory says things might work out today:
- The starting price of gold was $1,771.30.
- Therefore, the price is down almost one percent (0.9906).
- Since the S&P 500 closed Friday at 3,992.93…
- We can bracket 3,955.40 as a possible trading area for this average to transit today.
And we will go further by assuring you this will almost certainly be wrong. Although, if we could jump in a time machine and pop right to the close today, a 37-point decline in the S&P 500 would be a marvelous dart toss.
BUT the S&P futures were down a mere -12.50 (FinViz) or -17.30 (Yahoo) around click time.
Which leads us to possible futures that include:
- Price of gold could have a rally to recover some of its decline which would make present S&P futures prices rise, or…
- Wall Street doesn’t get my outlooks and trade on them.
Hmm… any idea which one might be right?
We are at the top of a (likely end of rally) for (large yellow3 is not shown, but is implied and we give you credit for enough brain cells to figure out it would be down and to the right somewhere and will become more obvious when) Wave 3 (2) finally winds up:
We sure like the notion of 3 (2) being finished as of last Friday, but who the hell knows.
Don’t forget the Center for Financial Generosity (and delusion) at the NY Fed will be re-funding $2.2 trillion worth of repo’s today and there’s some bond action, so anything can happen today.
Except Joe and Xi are in Bali and that gets me to…
The Biden-Xi love fest won’t make as big a splash (or be of similar scale) as Hunter’s scenes on social, but the thing catching our eye this morning is how the Russians have been written-out of the program.
It began with a series of headlines like Russian Foreign Minister Sergey Lavrov taken to hospital after arrival at G-20. Same story, different sourcing, was also fed by A.P. Indonesian officials: Russia’s Lavrov treated at hospital.
Well, except maybe it didn’t really happen: Russia denies Lavrov was taken to Bali hospital and treated for heart condition ahead of G20 summit.
We may never know, but it’s sure interesting that the PR gangsters are swinging hard and heavy at the Bali High. Marginalize Russia game-on?
Market Crookery School
This is options week. And with our Aggregate Index closing Friday at 33,653, we look to the previous option expiration (October 21st) when the trusty Aggregate closed at 31698.52.
This means our equal dollars allocated model of multiple stock markets is up how much for a month?
Well, you’ll have to exsqueeze me, but this is stupid and manipulated.
We just had a deniably “straight” election with how many billions spent on political persuasion and we get a virtually identical clown posse back to reprise their roles as losers?
From a marketing (and social moods) standpoint, it just doesn’t make sense.
There was no point to the Elections, if this was the case. America had already achieved Nirvana and Balance to the degree that there was virtually no change.
“Bullshit!” Screams the inner voice.
The only plausible (and not very) are the reports that people’s behaviors actually have changed because of the armed and dangerous jabs. But this doesn’t pass the smell test, either.
Or does it?
Although it is far too late in the making, one story to put in the tickler file for follow-up is “University of Minnesota research project will study impact of long COVID on brains.”
We think this is important because Research shows that multiple COVID infections could lead to severe health complications. So, could multiple jabs have a similar effect as actual infections?
And, in the meantime, here’s another slowly evolving, but we’ll try to track anyway: Myocarditis after Covid vaccine: Research on long-term effects underway. How long before this is buried?
Inquiring minds want to know.
But in the meantime, let’s mix everyone a new happy jab, shall we? New drug shows promise for fighting both COVID.
But it’s like I tell my doctor: “Forget all the medical debate. We won’t sign wavers of liability under any condition.”
If an insurance carrier won’t touch coverage, I won’t either. It’s really that deadly simple.
The Life You’re Buying?
I hate reading stories like this one: Crypto crash and gold sell-off show there’s no place for investors to hide.
Well, kiddies, there are lots of hiding places. The most obvious is between our ears.
Keeping up with the Joneses and all that is one starting point. Which leads to having a little extra money, which can then be parlayed into becoming debt free. But that’s to anti-business, for some, I suppose.
Living out of the city and shuttering in, we have limited our contact to mainly electronic, save the odd visits (from my son and upcoming our consigliere) because of an emerging theory:
We figure Death is contagious.
Yes, that’s right. If there weren’t other people around, might we live a hell of a lot longer? Methuselah, for example: Not as many people around back then. He lived until the time of the Flood (which we would put a long while back).
But here’s the point: Is it possible that The Flood took down a previous High Civilization here on Earth? And that the previous civilization was much longer-lived?
Elaine and I were watching a Graham Hancock series on this “missing high civilization” that so many are in a hurry to write off as never happening. Ego-jerk reaction, sounds like.
But here’s the thing: Is it possible that in addition to almost killing off mankind, the period (pre-Flood) when we know somewhat reliably that a javelin thrower living to 969 years of age, that an ancient DNA bioweapon also reduced human longevity?
We managed to stay awake for the first several episodes, but it was an interesting idea to sleep on: Not just that there was a Flood – global coastal event, anyone?
No, it came from reflecting for many years on what a similar continental subsidence could release into the biosphere of our modern world: Chemicals, DNA, all that bioweapons lab shit and how many fuel rods do you want to cook it with?
Is it possible that in the wake of a modern (Flood) analog there would be enough (seriously deadly shit) that the “natural selection processes” would opt for “Shorter growing season for souls” in return for coping with environmental contamination of a massive scale?
Much more interesting to think about than the mit-wobbling glad-handers in Bali.
I’m sure there’s something I’ve overlooked.
But if you come out of this morning’s report with sketchy elections that don’t unbalance things and no, the markets are not really 6 percent better in the last 3-weeks – then my job is done for this morning.
We have runaway excess to plan for – the Black Friday events are less than two weeks away…
Write when you get rich,