History In The Making

Ludwig van Beethoven’s Symphony No. 7 in A major, consists of four incredible movements and was composed between the years 1811 and 1812, at which time the poor man had already turned almost completely deaf. I must admit that listening to this symphony in particular often brings tears to my eyes. First as a visceral response to its unparalleled beauty and technical perfection, but even more so knowing that Beethoven never had been able to actually listen to his own creation.

The story almost seems like a cruel punishment of the Gods portrayed in ancient Greek or Roman mythology. To be handed such a divine talent or gift, but at the same time losing your own ability to enjoy it the more you actually use it. I can only imagine the mental anguish and emotional torment Beethoven was forced to endure over the course of about 20 years up until his death. He died pretty poor as most of his income was dependent on live performances (Spotify wasn’t available until about 180 years later), which obviously turns into a tough act to pull off if you’re as deaf as rock wrapped into a blanket.

I sometimes wonder if the knowledge of his future fame would have offered him much solace. Knowing the mentality of the Germans quite well as I sprung from that same gene pool I can assure you that we are quite a narcissistic bunch underneath the cold exterior. So my hunch would be that it would probably offered him at least some comfort. What impresses me the most however is that his torment did not detract him from his mission to do what he was born to do and he continued writing two more symphonies of which the 9th is the one he most definitely never heard a single tone.

Now think about that next time when you’re having a tough day or when you find yourself blaming others or your circumstances for not being able to pursue your dreams. Beethoven was a giant and unfortunately they don’t make them like this anymore.

Now what inspired this intro was the concept of perfection, to which LVB’s 7th symphony is without doubt a timeless example. When it comes to trading of course we sometimes refer to charts or campaigns in an emotional fashion, but rarely do they entail the concept of perfection and beauty. But if I look at our entry three weeks ago and consider the ensuing rally then I cannot help but feel awe and joy. For one we were able to jump on board and that’s on us, we should be proud. But this rally stands on its own in that it is almost historical in its relentless propagation.

If someone would ask me to point toward one of the best campaigns in my life then this one would probably be among the top three. I remember riding gold and crude a year or two ago but although those rallies were impressive I believe they are thwarted by this one. Could we be looking at perfection here? A rally that future traders will point toward and say – “heck grandpa/grandma, I wish I had been around to jump on that one.” And you’ll say “well, as a matter of fact…”

Anyway, this campaign is now bordering the ridiculous and I’m now advancing my stop to below the 2380 mark. There’s really nothing left to be said here – technically we are in uncharted territory and it’ll end when it will end. We don’t ask questions and ride it until that moment arrives.

Silver hasn’t gone anywhere and my trailing stop remains where it is. Could we be painting a little pennant here? If so then we’re in good shape but we could fall prey to a fake out spike lower. I’m comfortable trailing where I’m at however.

Gold has lost much of its luster in the past few days but I think we’ve got a possible long candidate here again once the short term panel paints something resembling a spike low preferably followed by a retest. I very much like the context on the daily panel. Although gold has been pounded lately I think this may be the big shake out before a jump higher. We’ve accumulated a ton of support context here just a few handles away and the potential for a continuation of the current daily trend is pretty good.

Yellen is scheduled to deliver a speech tomorrow and perhaps that’s why equities are in a rush to paint a bit more green before she says something stupid. I for one won’t add any more exposure until then. Ms. Market has been good to me/us and there’s no reason to test my luck.