Good morning.
Peter asks the Lord whether the parable is for the apostles or for everyone. The Lord answers with a question.
Wednesday of the Twenty-ninth Week in Ordinary Time
Gospel: "But this know ye, that if the householder did know at what hour the thief would come, he would surely watch, and would not suffer his house to be broken open. Be you then also ready: for at what hour you think not, the Son of man will come. And Peter said to him: Lord, dost thou speak this parable to us, or likewise to all? And the Lord said: Who (thinkest thou) is the faithful and wise steward, whom his lord setteth over his family, to give them their measure of wheat in due season? Blessed is that servant, whom when his lord shall come, he shall find so doing. Verily I say to you, he will set him over all that he possesseth. But if that servant shall say in his heart: My lord is long a coming; and shall begin to strike the menservants and maidservants, and to eat and to drink and be drunk: The lord of that servant will come in the day that he hopeth not, and at the hour that he knoweth not, and shall separate him, and shall appoint him his portion with unbelievers. And that servant who knew the will of his lord, and prepared not himself, and did not according to his will, shall be beaten with many stripes. But he that knew not, and did things worthy of stripes, shall be beaten with few stripes. And unto whomsoever much is given, of him much shall be required: and to whom they have committed much, of him they will demand the more." — Luke 12:39-48
The Latin of the question is Quis, putas, est fidelis dispensator, et prudens, quem constituit dominus supra familiam suam, ut det illis in tempore tritici mensuram? And of the last line, Omni autem cui multum datum est, multum quaeretur ab eo: et cui commendaverunt multum, plus petent ab eo.
In the Catena Aurea, Gregory says why the hour is hidden: "the last hour our Lord wishes to be unknown to us, in order as we cannot foresee it, we may be unceasingly preparing for it." Chrysostom hears the rarity in the question: "our Lord here asks the question not as ignorant, who was a faithful and wise steward, but wishing to imply the rareness of such." Basil reads the blessing closely: "He says not, 'doing,' as if by chance, but so doing." And on the stripes, Chrysostom: "all things are not judged alike in all, but greater knowledge is an occasion of greater punishment."
The full readings are on USCCB.org.
bible.usccb.org/bible/readings/102126.cfm →
Catechism* 2404 gives the steward his definition: "The ownership of any property makes its holder a steward of Providence, with the task of making it fruitful and communicating its benefits to others, first of all his family." Paragraph 2402 goes back to the beginning: *"In the beginning God entrusted the earth and its resources to the common stewardship of mankind to take care of them, master them by labor, and enjoy their fruits."
Tuesday's close: SPY $769.09, +0.3% · Nasdaq 100 −0.2% · Russell 2000 +1.7% · tape BULL, regime choppy · new longs still paused by the two-loss warning
Tuesday opened lower and finished higher. The S&P 500 fund opened at $765.67, 0.1% under Monday's close, touched a low of $764.34, and closed at $769.09, up 0.3%, after a high of $772.29. That is 1.3% below the six-month closing high of $779.10 set October 6. The Nasdaq 100 fund gapped down 0.4% at the open, to $715.24, reached a low of $710.42, and closed at $717.21, down 0.2%. The Russell 2000 fund rose 1.7% and the equal-weight S&P 500 fund 1.2%. Ten of the eleven sector funds rose: health care led at +2.4% and real estate followed at +1.7%. Technology was the only one down, at −0.3%.
The two-loss warning is still on: the system takes no new long until SPY closes above $779.37, and Tuesday's close was $10.28 short of it, 1.3% below. The tape turns, and the system sells every long, only on a SPY close below $629.29. By our own count, 6 of the last 25 sessions are distribution days for the S&P 500 fund and 7 for the Nasdaq 100 fund. The scanner's list holds twenty-five names at or near their 52-week pivots, and none triggered.
The house account holds no stock positions today, and no orders were filled Tuesday. The seven puts cost $18,426 and were worth $21,647 on Alpaca's marks, up 17.5%. The idle-cash sleeve is in commodities (DBC) and short-term Treasuries (SHY).
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The week ahead, per the USCCB daily readings calendar for the United States:
Holy Mary, Mother of God, pray for us.
In Christ,
Jonathan Simmons
Enoch Capital LLC
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