evening wrap, september 29

market vibes

“Life itself is the proper binge.” Julia Child

Following a meeting with Netanyahu at the White House today, Trump opened a joint presser with this: “It’s an historic day for peace.” I sure hope so. They both seemed optimistic. Either way, I respect the effort if not the odds.

The mood in NY was calm and confident throughout the session on Monday. Record highs in gold and silver have become rather ordinary and equities were equally blasé about whether or not the government would shut down at the close of business tomorrow. The shut-down script is so dog-eared by overfamiliarity, no one is paying any attention to that. The big issue is whether the stock market can manage another all-time high before Washington runs out of money. Fear not! Nothing will stop money going into stocks, not even a bankrupt treasury.

Atop the marquee tonight

The bear is back in oil, a cryogenic hold on stocks, bitcoin’s do or die $5k rally, gold and silver singing “I’m in Heaven” like Fred and Ginger... plus the power of cheese in the vibe…