As opposed to trancendentalism...

I never really got too aquainted with those two schools of thought, but I think that's basically what they mean. Correct? I could be way off ... it was just a blind guess using the context as a guide.

Existentialism - basically what you posted above.

Trancendentalism - There's something external to the universe which gives it meaning (perhaps God). In essence, this "something" trancends reality as we've come to know it (or is reality, shrouded behind the mystery called "the universe")...