Found | Catholic Daily No. 135

The Church keeps no saint on the calendar today. The first reading gives us one anyway, in his own hand, and the Gospel gives us the reason he wrote it.

First reading, Philippians 3:3-8: "For we are the circumcision, who in spirit serve God; and glory in Christ Jesus, not having confidence in the flesh. Though I might also have confidence in the flesh. If any other thinketh he may have confidence in the flesh, I more, being circumcised the eighth day, of the stock of Israel, of the tribe of Benjamin, an Hebrew of the Hebrews; according to the law, a Pharisee: according to zeal, persecuting the church of God; according to the justice that is in the law, conversing without blame. But the things that were gain to me, the same I have counted loss for Christ. Furthermore I count all things to be but loss for the excellent knowledge of Jesus Christ my Lord; for whom I have suffered the loss of all things, and count them but as dung, that I may gain Christ."

Gospel, Luke 15:1-10: "Now the publicans and sinners drew near unto him to hear him. And the Pharisees and the scribes murmured, saying: This man receiveth sinners, and eateth with them. And he spoke to them this parable, saying: What man of you that hath an hundred sheep: and if he shall lose one of them, doth he not leave the ninety-nine in the desert, and go after that which was lost, until he find it? And when he hath found it, lay it upon his shoulders, rejoicing: And coming home, call together his friends and neighbours, saying to them: Rejoice with me, because I have found my sheep that was lost? I say to you, that even so there shall be joy in heaven upon one sinner that doth penance, more than upon ninety-nine just who need not penance. Or what woman having ten groats; if she lose one groat, doth not light a candle, and sweep the house, and seek diligently until she find it? And when she hath found it, call together her friends and neighbours, saying: Rejoice with me, because I have found the groat which I had lost. So I say to you, there shall be joy before the angels of God upon one sinner doing penance."

The Latin of the shepherd's cry is Congratulamini mihi, quia inveni ovem meam, quae perierat.

The Douay-Rheims has a note on the last verse, on the words before the angels: "By this it is plain that the spirits in heaven have a concern for us below, and a joy at our repentance and consequently a knowledge of it."

In the Catena Aurea, Pope Saint Gregory the Great begins with the murmuring: "true justice feels compassion, false justice scorn." Of the woman's coin, St. John Chrysostom says it is not any coin: "the piece of silver is a coin having the impress of the king's image." And Pope Saint Gregory the Great, on her calling her neighbors, says who they are: "the heavenly powers are nigh to Divine wisdom, inasmuch as they approach Him through the grace of continual vision."

The reading today is a man putting his résumé on the table and then pushing it across.

Circumcised the eighth day. Of the tribe of Benjamin. A Hebrew of the Hebrews. A Pharisee. A persecutor of the Church. Blameless under the law. Every line is true and every line is the kind of thing a man is proud of, and he lists them to say what they came to: "the things that were gain to me, the same I have counted loss for Christ."

He had learned it on a road. In the ninth chapter of Acts, "Saul, as yet breathing out threatenings and slaughter against the disciples of the Lord," asked the high priest for letters to Damascus, to bring any men and women of the Way back bound to Jerusalem. "And as he went on his journey, it came to pass that he drew nigh to Damascus; and suddenly a light from heaven shined round about him. And falling on the ground, he heard a voice saying to him: Saul, Saul, why persecutest thou me?" He asked who spoke. "I am Jesus whom thou persecutest." He got up from the ground and could see nothing, and they led him by the hand into the city. "And he was there three days, without sight, and he did neither eat nor drink."

The Pharisees in the Gospel murmured that Jesus received sinners and ate with them. Saul had been one of those who murmured, and more than murmured. He was the lost sheep who did not know he was lost, and he was found. The shepherd did not wait for him to turn around. He came down the road.

The Catechism (545) says what the three parables are: "Jesus invites sinners to the table of the kingdom: 'I came not to call the righteous, but sinners.' He invites them to that conversion without which one cannot enter the kingdom, but shows them in word and deed his Father's boundless mercy for them and the vast 'joy in heaven over one sinner who repents'."

And 336 answers the Douay note on the angels: "From its beginning until death, human life is surrounded by their watchful care and intercession. 'Beside each believer stands an angel as protector and shepherd leading him to life.'"

Wednesday's close: SPY $766.73, +1.6% · Nasdaq 100 +0.9% · Russell 2000 +1.5% · tape BULL, regime correction · new longs still paused by the two-loss warning

Wednesday opened at $763.01, touched a low of $762.71, rose to a high of $769.19 and closed at $766.73, up 1.6% from Tuesday's $754.38. That is 1.6% below the six-month closing high of $779.10. The Nasdaq 100 fund opened at $688.75, reached $701.41 and closed at $691.68, up 0.9%. The Russell 2000 fund gained 1.5%, and the equal-weight S&P 500 fund gained 1.9%, ahead of the index itself, the reverse of Tuesday. Eight of the eleven sector funds rose: consumer discretionary 4.2%, financials 3.5%, communication services 3.4%, consumer staples 3.4%, real estate 3.3%, health care 3.1%, materials 2.5% and utilities 0.5%. Technology was unchanged. Industrials fell 1.1% and energy 4.7%.

The two-loss warning is still on, and the level did not move tonight: the system takes no new long until SPY closes above $781.59. Wednesday's close was $14.86 short of it, 1.9% below. The tape turns, and the system sells every long, only on a SPY close below $629.29; Wednesday's close is 21.8% above that line. By our own count, 6 of the last 25 sessions are distribution days for the S&P 500 fund and 8 for the Nasdaq 100 fund; the S&P count is one fewer than Tuesday because an old one aged out of the window, and Wednesday was not one, because prices rose. The scanner's list holds twenty-six names at or near their 52-week pivots, down from thirty-three on Tuesday. Nine stocks broke through their pivots on volume and cleared every gate, and the warning held the system back from all nine. That is four more than Tuesday's five, and no orders were placed on any of them.

The house account closed at $974,691, down $10,309, or 1.0%, from Tuesday. The whole of it is the commodity fund, DBC, which fell 3.6% as energy fell 4.7%. The account's two largest holdings are the idle-cash sleeve: SHY, the short-term Treasury fund, at $573,723 and DBC at $276,510. Outside the sleeve it holds one stock position, the Invesco DB Agriculture Fund (DBA): 3,604 shares, $95,326, 9.8% of the account, down 0.4% on the day. The seven puts cost $18,426 and were worth $28,983 on Alpaca's marks, up 57.3%, from $28,348 on Tuesday. The Palantir put closed at $1,905 against its $1,805 cost.

The sleeve is selling DBC. Gold and long Treasuries were already below their 100-day averages, so their thirds sit in SHY. DBC is still above its own 100-day average, $31.29 against $30.75, but on Wednesday it closed below the lower edge of its recent trend channel, the line the system now draws under each of the three funds. The rule added Wednesday says that is a break, and a broken leg is held in SHY until a new channel forms. So tonight's run queued two orders for Thursday's open: sell all 8,837 shares of DBC, about $276,510, and buy 3,394 shares of SHY. If the order fills at the open, the whole sleeve will be in short-term Treasuries.

Palantir, Apple and AMD. Palantir opened at $165.17, 5.8% under Tuesday's close, rose as high as $177.35 and closed at $171.69, down 2.1%. Apple opened at $341.88, up 3.1%, climbed to $354.47 and closed at $349.56, up 5.4%. AMD, which reported Tuesday after the close, opened at $485.49, traded between $476.80 and $514.51, and closed at $488.71, up 1.0%.

The economy. The Bureau of Labor Statistics publishes Productivity and Costs for the third quarter today at 8:30 AM ET and the Employment Situation for October on Friday, November 6, at 8:30 AM ET. The October Consumer Price Index follows on Tuesday, November 10. The Federal Open Market Committee does not meet again until December 8-9.

→ Thursday, Nov 5: ConocoPhillips, Parker-Hannifin, Southern Company, Duke Energy and Cigna before the open; Monster Beverage, Airbnb, Cloudflare and EOG Resources after the close

→ Friday, Nov 6: Enbridge, Moderna, Humana and Vistra before the open; Berkshire Hathaway (time not supplied)

→ Monday, Nov 9: Constellation Energy, KKR and Barrick before the open; Occidental Petroleum and Take-Two after the close

St. Paul, pray for us.

Holy Mary, Mother of God, pray for us.

In Christ,

Jonathan Simmons

Enoch Capital LLC

Catholic Daily goes out Monday through Saturday.

LinkedIn · X @jonenochcap · enochcap.com

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