Ubi Sunt, Ubi Caritas - Option Expiration Wash and Rinse

"Where are the princes of this world, and those who lorded it over the creatures of the earth?  Those who made sport of the birds of the air, and hoarded up riches in which they trusted, and for whom there is no limit to their greed, those who schemed to get wealth, and were always anxious about their possessions.

But now there is no trace left of them.  They have vanished down into the bowels of the earth, and others have risen to take their place."

Baruch 3:16-19

“Whoever wishes to come after me must deny themselves, take up their cross, and follow me. For whoever wishes to save their life will lose it, but whoever loses their life for my sake and that of the gospel will save it. What does it profit a man to gain the whole world and lose their soul? What could one give in exchange for their soul? Whoever is ashamed of me and of my words in this lawless and sinful generation, the Son of Man will be ashamed of them when he comes in his Father’s glory with his angels."

Mark 8:34-38

"For the preaching of the cross is foolishness to those who are perishing, but to those who are saved it is the power of God.  It is written: 'I will destroy the wisdom of the wise, and will cast away the understanding of the learned.'

Where is the wise man?  Where is the learned of the law?   Where is the philosopher of this world?   Has not God made the wisdom of this world look like foolishness?   When the world through wisdom could not know God, in His wisdom it pleased God to save those who came to believe through the foolishness of our preaching."

1 Corinthians 1:18-21

"¿Qué fue entonces del rico y de su poderío
de la vanaglorïa, de su orgulloso brío?
Todo ya es pasado y corrió como río;
de todo su pensar fincó él mucho frío."

Pedro López de Ayala, Ubi sunt

"The souls of the virtuous are in the hands of God, no torment shall ever touch them.  In the eyes of the unbelieving they appeared to die, their going looked like a tragedy, their leaving us, like a desolation; but they are at peace.  God has put them to the test and proven them worthy to be with him; he has tested them like gold in a furnace, and accepted them as a sacred offering.  They who trust in him will understand the truth, those who are faithful will live with him forever, in love; for grace and mercy await those whom he has chosen."

Wisdom 3:1-6, 9

 

Just another options expiration.

So we had stocks plunge and give the public another knuckle biting option expiration, based on what a couple of non-voting Fed heads said yesterday.

This market is all about leverage, of hot money and information.

Gold and silver caught a stiff wash and rinse, which was pretty much par for the course.  I think I mentioned it about every day.  After a deep plunge they ended about unchanged to green on the day.

The Dollar ended up largely unchanged.

The US will be closed on Monday in honor of past presidents.

“Verily verily I say to you, whoever hears my word, and believes in him who sent me, has eternal life and will not be judged, but has crossed over from death into life."

John 5:24

For those who abide in love abide in God, and God in them. 

Have a pleasant weekend.