Hope You Climbed Aboard!
Gold is in the process of making a recovery and run to resistance at $715. For the last 24 hours, the high has been $667.20 today at 9:49 am (NY) and the low of $647.10 three minutes later. It is now trading at a new high of $668.30. It has been above $650 for the 24 hours.
DROOY is back up to $1.67; QEE to $0.39 (If you missed it at $0.33 or $0.34, you really missed a good buy. I may begin trading in this one if it runs up fairly high.); BGO is at $5; MRDDF to $1.24; SSRI to $19.03; RNO is $1.90. All are up nicely!
Even the general market as measured by the DJI is up 36.84 to 11164.15. Thus, everyone is happy again.
The dollar has dropped against the Yen. The EURO lost a bit over night, but is still in nice territory.
The trade and budget deficits still are a bad situation for the dollar. They will come home to roost in a big way. Bernanke has his work cut out for him. He is resting on the horns of a dilemma: Raise interest rates to save the dollar and kill the economy or leave rates alone or reduce them to save the economy and risk increased inflation. Greenspan left him a MESS! By the way, do you remember that Greenspan was a hard money man long before he took over the power of the Fed to manipulate the "money" supply? Yep, his name should have been Goldspan in the early days, but he went to Greenspan at the Fed.
As of now, gold is $666.40 down a bit from the high. We may not be completely out of the woods as yet, but the movement upward is an encouragement.
We can never totally trust man, gold or ourselves for even financial security. Only the Lord Jesus Christ is dependable and only He deserves, rather has earned our total trust. He is the same yesterday, today, and forever. That is the certain conviction and sure hope of every child of His. What a joy it is to know Him: the Rock which never changes.
Best to each, Doug
DROOY is back up to $1.67; QEE to $0.39 (If you missed it at $0.33 or $0.34, you really missed a good buy. I may begin trading in this one if it runs up fairly high.); BGO is at $5; MRDDF to $1.24; SSRI to $19.03; RNO is $1.90. All are up nicely!
Even the general market as measured by the DJI is up 36.84 to 11164.15. Thus, everyone is happy again.
The dollar has dropped against the Yen. The EURO lost a bit over night, but is still in nice territory.
The trade and budget deficits still are a bad situation for the dollar. They will come home to roost in a big way. Bernanke has his work cut out for him. He is resting on the horns of a dilemma: Raise interest rates to save the dollar and kill the economy or leave rates alone or reduce them to save the economy and risk increased inflation. Greenspan left him a MESS! By the way, do you remember that Greenspan was a hard money man long before he took over the power of the Fed to manipulate the "money" supply? Yep, his name should have been Goldspan in the early days, but he went to Greenspan at the Fed.
As of now, gold is $666.40 down a bit from the high. We may not be completely out of the woods as yet, but the movement upward is an encouragement.
We can never totally trust man, gold or ourselves for even financial security. Only the Lord Jesus Christ is dependable and only He deserves, rather has earned our total trust. He is the same yesterday, today, and forever. That is the certain conviction and sure hope of every child of His. What a joy it is to know Him: the Rock which never changes.
Best to each, Doug
posted by Doug @ 8:53 AM
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