Staggered Disbelief - Stocks Flirting with Bear Market Territory

“When pride comes, then comes disgrace.  But with disgrace comes humility, and with humility comes wisdom.  The humility of the righteous will guide them, but the stubborn and clever illusions of the proud will destroy them."

Proverbs 11


“There's a reason narcissists don't learn from mistakes and that's because they never get past the first step which is admitting that they made one. It's always an assistant's fault, an adviser's fault, a lawyer's fault. Ask them to account for a mistake any other way and they'll say, 'what mistake?”

Jeffrey Kluger, The Narcissist Next Door


“We must speak truth to power, and confront ignorance with facts.  But facts are threatening to those invested in fraud.”

DaShanne Stokes

Stock futures went down limits early last night, and stayed pegged there until this morning.

On the open of the cash market the major stock indices continued to fall, and quickly triggered a market-wide trading halt.

I have market the limit down and trading halt on the index charts.

I have also marked the 20% 'bear market' level on the charts as well.

Gold soared over 1700 last night, but in the quiet was smacked down and hard. It recovered some of that and managed to close higher on the day.

The dollar continued its slide.

Silver and the miners are getting hit with bear raids. I suspect that the ringleaders on Wall Street, the Banks, are leading the charge here, to protect their own short positions, and to provide a good trading opportunity for themselves.

Although a surprisingly large number of Americans continue to believe whatever alternative facts that Trumpolini puts forward, recent events have staggered their ardent disbelief.

Men it is well said, go mad in herds, but come back to their senses one at a time.

Have a pleasant evening.