The Witch of September - And Now Into the Season of Risk

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Published : September 18th, 2021
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Category : GoldWire
“What we would like to do is change the world--make it a little simpler for people to feed, clothe, and shelter themselves as God intended them to do.  And, by fighting for better conditions, by crying out unceasingly for the rights of the workers, the poor, of the destitute--the rights of the worthy and the unworthy poor, in other words--we can, to a certain extent, change the world; we can work for the oasis, the little cell of joy and peace in a harried world.  We can throw our pebble in the pond and be confident that its ever widening circle will reach around the world.  There is nothing we can do but love, and, dear God, please enlarge our hearts to love each other, to love our neighbor, to love our enemy as our friend.” 

Dorothy Day 

"Do you desire to be great? make yourselves little.  If you minister to the humble and despised, if you feed the hungry, tend the sick, succour the distressed; if you bear with the froward, submit to insult, endure ingratitude, render good for evil, you are, as by a divine charm, getting power over the world and rising among the creatures. God has established this law. Thus He does His wonderful works. His instruments are poor and despised; the world hardly knows their names, or not at all. They are busied about what the world thinks petty actions, and no one minds them. They are apparently set on no great works; nothing is seen to come of what they do: they seem to fail. They rise by falling."

John Henry Newman 

The market seemed a bit nervy today, once again.  Almost skittish and easily provoked.

The stock indices all fell, and with some significance.  

And they ended the day near the lows.

But the VIX has yet to show any greater level of concern for risk among the traders.

Stocks are on a decent support level now, but any follow through action to the downside next week should be viewed with increasing caution for the potential for a greater decline. 

Gold finished just slightly lower.

Silver dropped a bit more in sympathy with stocks.

The miners were under pressure most of the day.

The Dollar finished higher taking back the 93 handle firmly.

I am all in cash now again.   I want to see more from this market before being willing to incur any risk.

I do not like trading when I am feeling off.  

The Fed seems to be caught up in a widening inquiry of questionable trading and conflicts of interest.

Need little, want less, love more.  For those who abide in love abide in God, and God in them.

Have a pleasant weekend.

 

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