Good morning.
Issue 120 went out last night with today's ordinary Mass. The older calendar keeps a feast today that the ordinary calendar does not, and its Mass is worth a page of its own.
The Latin Mass keeps St. John Cantius, Confessor, today: third class, white vestments, with the Gloria and no Credo. The Mass is known by its Introit, Miserátio hóminis circa próximum, from Ecclesiasticus 18:12-13: "The compassion of man is toward his neighbour: but the mercy of God is upon all flesh. He hath mercy, and teacheth, and correcteth, as a shepherd doth his flock."
The Collect asks that, "by following the example of blessed John, Your Confessor, we may advance in a knowledge of holiness and, by showing pity for others, obtain Your forgiveness through his merits." The Epistle is James 2:12-17: "For judgment without mercy to him that hath not done mercy. And mercy exalteth itself above judgment." And the Offertory, from Job 29:14-16, is the poor man's friend speaking: "I was an eye to the blind, and a foot to the lame. I was the father of the poor."
The Gospel is Luke 12:35-40, the lamps and the master's knock. It is the same passage as today's ordinary-form Gospel (Luke 12:35-38), two verses longer, and it ends with the line the whole Mass has been building toward: "Be you then also ready: for at what hour you think not, the Son of man will come."
The Introit, the Collect, the Epistle, the Gospel and the Offertory are laid out below.
In the Catena Aurea, Cyril says what the girded loins and the lamp mean: "to be girded, signifies activity and readiness to undergo evils from regard to Divine love. But the burning of the lamp signifies that we should not suffer any to live in the darkness of ignorance." Augustine says what the girding keeps out: "to gird our loins for the sake of keeping ourselves from the love of the things of this world, and to have our lamps burning, that this thing may be done with a true end and right intention." And Maximus says what feeds the lamp: "he teaches us to keep our lamps burning, by prayer and contemplation and spiritual love."
St. John Cantius (John of Kęty)
According to the Catholic Encyclopedia, John was born at Kenty, near Oswiecim, in Poland, in 1412 (or 1403), and studied at the Academy of Krakow. He was ordained, became a professor of theology, and was sent for a time to be the parish priest at Olkusz. He was afraid of the responsibility of a parish, and he went back to the Academy as professor of Sacred Scripture, where he taught "without interruption until his death." He died at Krakow in 1473 and is buried under the church of St. Anne.
The encyclopedia gives the rest in one sentence: "He distributed to the poor all the money and clothes he had, retaining only what was absolutely necessary to support himself." He made one pilgrimage to Jerusalem and four to Rome on foot. Clement XIII canonized him in 1767, and the encyclopedia notes that the Roman Breviary gives him three hymns, "the only confessor not a bishop who is thus honoured." Other sources give a different birth year, 1390, so the exact year is not settled.
Catechism* 2443 says what the Mass has been saying: *"God blesses those who come to the aid of the poor and rebukes those who turn away from them… It is by what they have done for the poor that Jesus Christ will recognize his chosen ones."
Monday's close: SPY $766.60, +0.4% · Nasdaq 100 +1.2% · Russell 2000 +0.3% · tape BULL, regime correction · new longs still paused by the two-loss warning
Monday gave back part of Friday's loss. The Nasdaq 100 fund rose 1.2% to $718.31, and the S&P 500 fund rose 0.4% to $766.60, between a low of $765.84 and a high of $770.41, closing 1.6% below the six-month closing high of $779.10 set October 6. The Russell 2000 fund rose 0.3%, and the equal-weight S&P 500 fund fell 0.3%. The strength was narrow: only three of the eleven sector funds rose, consumer discretionary (+1.8%) and technology (+1.4%) the strongest, and eight fell, utilities the weakest at −2.0%.
The two-loss warning is still on: the system takes no new long until SPY closes above $779.37, and Monday's close was $12.77 short of it, 1.7% below. The tape turns, and the system sells every long, only on a SPY close below $629.29. By our own count, 7 of the last 25 sessions are distribution days for the S&P 500 fund and 7 for the Nasdaq 100 fund. Monday night's scan, run once the day's data was complete, holds twenty-six names at or near their 52-week pivots, with relative-strength readings from 90 to 99, and none triggered.
The house account holds no stock positions. The seven puts cost $18,426 and were worth $21,116 on Alpaca's marks. The idle-cash sleeve is in commodities (DBC) and short-term Treasuries (SHY), and the account closed Monday at $990,031.
What is on the calendar. The Bureau of Labor Statistics releases State Employment and Unemployment today at 10:00 AM ET, and Usual Weekly Earnings for the third quarter tomorrow at 10:00 AM ET. The Federal Open Market Committee meets October 27-28. The levels do not change: SPY above $779.37 lifts the warning, and SPY below $629.29 turns the tape.
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The week ahead, per the traditional (1962) calendar:
Holy Mary, Mother of God, pray for us.
In Christ,
Jonathan Simmons
Enoch Capital LLC
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