The verse means rather,

I laughed on them, when they had no confidence,

And the light of my countenance they cast not down.

Job, with his broader insight and more capable counsel, smiled on those who were perplexed and despondent; what seemed insurmountable difficulty or threatened disaster to them, seemed to him a thing easy to overcome and nothing to create alarm; while on the other hand the despondency of others was never able to cloud the cheerfulness of his countenance, so full was his mind of resource.

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