At the time I heard the lyrics as describing the effects of LSD. The pebble is a metaphor for it, the source of the ripples disturbing the waters of life.
"The daybreak is your midnight; the colours have all died." I heard as a reference to the experience of having stayed up all night, when after typically 12 hours or so "the colours have all died" after having "disturbed the waters", as LSD is wont to do.
His is not a positive view of the experience, what with the "wornout overcoat" and "rags of your hopes" I got the impression it was a cautionary tale, even while experiencing the song without negativity.
At the time I heard the lyrics as describing the effects of LSD. The pebble is a metaphor for it, the source of the ripples disturbing the waters of life. "The daybreak is your midnight; the colours have all died." I heard as a reference to the experience of having stayed up all night, when after typically 12 hours or so "the colours have all died" after having "disturbed the waters", as LSD is wont to do. His is not a positive view of the experience, what with the "wornout overcoat" and "rags of your hopes" I got the impression it was a cautionary tale, even while experiencing the song without negativity.