Thoughts on Markets

Monday, August 06, 2007

Wicked Market Struggles to Gain

Mr. Market is acting a bit on the scary side. The breadth of the market is rather narrow. Also, the new highs and lows are mostly in favor of lows. Today, the DJI are struggling at 13244+ up 62+. We have the whole week to follow, but there is little excitement in the market.

Gold traded over the week end in the 670 - 672 range reaching a high this morning at about 674.50. It is now at 668.70 down 4 pm the day. With the day over half gone, it should languish in that range for the rest of the day unless strong buying comes in late in the day

Silver went up to almost 13.15, but has backed off to 12.93 off 0.16 thus far today.

The mining stocks are down some for the most part. DROOD is trading around 5.50 which I believe is a good buy. It appears to be a good company, but may be facing a strike and the way gold is bouncing around, it is little wonder at the lower price. A good shopping season!

I trust you had a great time of worship of the Sovereign God of all yesterday. What a wonderful time it is when people of the faith of Abraham get together to worship King Jesus under the power of the Holy Spirit. It is truly a foretaste of heaven which helps us enjoy the abundant life we are promised.

I will be out of pocket for most of the week.

Best to each, Doug

0 Comments:

Post a Comment

<< Home