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Non-Farm Payrolls, Again

IMG Auteur
Published : July 07th, 2019
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Category : GoldWire

"There is no clean way to make a hundred million bucks. Somewhere along the line guys got pushed to the wall, nice little businesses got the ground cut out from under them. Decent people lost their jobs. Big money is big power, and big power gets used wrong. It's the system."

Raymond Chandler, The Long Goodbye

"I’ve seen it for years. I’ve seen a media, which has basically ignored the declining middle class, that doesn’t talk about poverty at all, and has no sense of what is going on in the minds of millions of ordinary Americans.  They live in a bubble, talk about their world, worry about who’s going to be running 18 years from now for office.  Meanwhile, people can’t feed their kids."

Bernie Sanders

"There is no trap so deadly as the trap you set for yourself.”

Raymond Chandler, The Long Goodbye

Most of the adults are on a long holiday weekend, so the trading was light, and fairly predictable.

And the weather here is just steamy!

Gold and silver and stocks were all smacked down hard by a stronger than anticipated Non-Farm Payrolls Report.

All recovered somewhat into the close.

All in all it proved to be a decent opportunity to replensih the short term gold positions that I sold into that last try at 1440. Not all. Now is not the time to have no longs in gold. Or too many longs in equities.

The charts seem somewhat straightforward.

I am concerned a bit about the future, primarily because of the recklessness of the privileged class in their smug pride.

I am watching The Big Sleep, the later version with Robert Mitchum and Joan Collins. I am going to watch the classic with Bogart and Bacall later on this evening.

Need little, want less, love more.

Have a pleasant weekend.

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