Possible Break Out of Gold
On Friday, gold had broken through the upper edge of the downward trend trough on the 1-Year Gold Chart from Kitco.com. This is a positive technical sign of a break out on the up side. For 24 hours, gold traded as high as $610.30 and as low as $598. The low was reached in overnight trading yesterday afternoon and the high about 10 a.m. today. It is now at $603.90. However, it must stay above $600 for a while and move toward $620 for any substantial rejoicing.
Almost all of the mining stocks are up today. Both the major silver stocks are doing well with PAAS at 21.60 and SSRI at 23.53.
I still have 10% trailing stops on some, not all of my DROOY holdings.
We must be patient and wait to see what happens in this crazy election. We should all rejoice greatly once it is over. The advertising will cease for a time. I started to say much of the false advertising would cease. The rhetoric is too superficial for me. And what the candidates say is seldom, if ever, what they do. Oh well, I said it anyway. Go out and vote for Tweedle Dum or Tweedle Dee if you like. Your vote certainly validates the system with which we are saddled. The right to vote is not equivalent to freedom. We retain the right to vote while our freedoms are being stolen away in the quest for power and personal gain.
There is increasing pressure upon the Asian nations to continue replacing the dollar in their central banks, and likely in individual bank and investment accounts. Speaking of the dollar continuing down the recent domestic product figures reported by AmericanCapitalist@taipangroup.com are 1st Quarter +5.6%; 2nd Quarter +2.6%, and 3rd Quarter +1.6%. Within the last quarter figure, the automobile industry accounted for +0.7% which is one of the lowest for the industry in many months. This does not seem to be a growing economy, but one struggling to stay alive.
Nevertheless, our Sovereign Lord Jesus Christ reigns supreme over all. Nothing can separate His people from His love and He works everything for our eventual good. We must praise and thank Him daily.
Best to each, Doug
Almost all of the mining stocks are up today. Both the major silver stocks are doing well with PAAS at 21.60 and SSRI at 23.53.
I still have 10% trailing stops on some, not all of my DROOY holdings.
We must be patient and wait to see what happens in this crazy election. We should all rejoice greatly once it is over. The advertising will cease for a time. I started to say much of the false advertising would cease. The rhetoric is too superficial for me. And what the candidates say is seldom, if ever, what they do. Oh well, I said it anyway. Go out and vote for Tweedle Dum or Tweedle Dee if you like. Your vote certainly validates the system with which we are saddled. The right to vote is not equivalent to freedom. We retain the right to vote while our freedoms are being stolen away in the quest for power and personal gain.
There is increasing pressure upon the Asian nations to continue replacing the dollar in their central banks, and likely in individual bank and investment accounts. Speaking of the dollar continuing down the recent domestic product figures reported by AmericanCapitalist@taipangroup.com are 1st Quarter +5.6%; 2nd Quarter +2.6%, and 3rd Quarter +1.6%. Within the last quarter figure, the automobile industry accounted for +0.7% which is one of the lowest for the industry in many months. This does not seem to be a growing economy, but one struggling to stay alive.
Nevertheless, our Sovereign Lord Jesus Christ reigns supreme over all. Nothing can separate His people from His love and He works everything for our eventual good. We must praise and thank Him daily.
Best to each, Doug
posted by Doug @ 10:56 AM
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