More Pressure on the Dollar
First, China, then Kuwait, and now Syria has unpegged its currency from the dollar to a basket of currencies. Of course, Kuwait and Syria are small players in the currency scheme of the world, but these appear to be the first small steps in what may become significant. The latest news indicates a possibility that the U. A. E. may be the next to jump on the life boat of escape from the sinking dollar.
This bodes well for the precious metals and mining stocks. Gold is currently at $671.30 and silver at $13.74. Both are up considerably from their recent lows. The last trades on some of our mining and precious metals stocks are, as follows: AGXM 1.39; CDY 1.95; CEF 9.28; DROOY 0.8463; ECO 6.08; GPTC 0.05; GSS 4.08; HMY 14.77; IAG 7.64; KGC 13.52; KRY 4.44; MRB 5.02; NEM 41.73; NTO 5.74; PAAS 29.25; QEE 0.1531; RNO 5.28; and SSRI 38.66.
Note that between our two silver miners, SSRI is now priced above PAAS. Though this has been true for some weeks now, it was not true several months ago. Interesting, and I wonder if there was a turn around after SSRI converted some of its cash into silver months ago. Possibly it is a better run company which is more profitable now.
Almost all of the major indexes for the US markets continue to confirm a bull trend. In fact, we are experiencing a bull run in most markets of the world. While all are on the upswing, all are historically over priced in terms of fundamentals and dividend yield. But this does not slow them down. This is very likely a world wide ballooning. It appears very likely to continue for the time being. The exuberance is world wide. Historically, all balloons have burst. The question is always, "When?" Time will tell, but be prepared by using trailing stops on any general market stocks you own.
This does not yet seem to be the third phase of the general market run up. However, there are many hot spots in the world which could trigger an over night plunge. The rhetoric of Putin against the Bush and Blair have heightened the potential of a new cold war. Iran is also saber rattling while the US has moved task forces into the Persian Gulf. Any escalation of these threats could drop the markets over night.
The world in general and the financial world in particular is always interesting. Each generation feels that it has the greatest threats to security or the greatest potential for profit.
We can plan carefully and rest in the Lord for safety and success without the worry of unbelief. I sincerely hope and pray that each of you is a new creature. If not, get on your knees before the Lord Jesus Christ and ask Him to make you a new person. Read the Bible daily to learn more of Him and what He expects of you.
Best to each, Doug
This bodes well for the precious metals and mining stocks. Gold is currently at $671.30 and silver at $13.74. Both are up considerably from their recent lows. The last trades on some of our mining and precious metals stocks are, as follows: AGXM 1.39; CDY 1.95; CEF 9.28; DROOY 0.8463; ECO 6.08; GPTC 0.05; GSS 4.08; HMY 14.77; IAG 7.64; KGC 13.52; KRY 4.44; MRB 5.02; NEM 41.73; NTO 5.74; PAAS 29.25; QEE 0.1531; RNO 5.28; and SSRI 38.66.
Note that between our two silver miners, SSRI is now priced above PAAS. Though this has been true for some weeks now, it was not true several months ago. Interesting, and I wonder if there was a turn around after SSRI converted some of its cash into silver months ago. Possibly it is a better run company which is more profitable now.
Almost all of the major indexes for the US markets continue to confirm a bull trend. In fact, we are experiencing a bull run in most markets of the world. While all are on the upswing, all are historically over priced in terms of fundamentals and dividend yield. But this does not slow them down. This is very likely a world wide ballooning. It appears very likely to continue for the time being. The exuberance is world wide. Historically, all balloons have burst. The question is always, "When?" Time will tell, but be prepared by using trailing stops on any general market stocks you own.
This does not yet seem to be the third phase of the general market run up. However, there are many hot spots in the world which could trigger an over night plunge. The rhetoric of Putin against the Bush and Blair have heightened the potential of a new cold war. Iran is also saber rattling while the US has moved task forces into the Persian Gulf. Any escalation of these threats could drop the markets over night.
The world in general and the financial world in particular is always interesting. Each generation feels that it has the greatest threats to security or the greatest potential for profit.
We can plan carefully and rest in the Lord for safety and success without the worry of unbelief. I sincerely hope and pray that each of you is a new creature. If not, get on your knees before the Lord Jesus Christ and ask Him to make you a new person. Read the Bible daily to learn more of Him and what He expects of you.
Best to each, Doug
posted by Doug @ 9:54 AM
0 Comments:
Post a Comment
<< Home