Thoughts on Markets

Tuesday, July 29, 2008

Familiar Pattern of Manipulation - Let's Cool It for Now!

The graphs could not be added to the posting this morning due to "internal problem." What ever that means. You can check on them at www.Kitco.com. The pattern is very familiar with both silver and gold being manipulated lower early this morning as NY COMEX opened.

Gold is now at 914.10 and silver at 17.10. Both in good buying range.

Mining stocks are trading at enticing prices again today. DROOY is at 6.31; HMY 10.58; KGC 18.39; {AAS 30.55; SLW 14.14; SSRI 27.97, and VGZ 3.62. All are well within buying range in my opinion. However, in view of the summer doldrums which are now upon us, I believe it is time to wait until near the end of August.

As explained yesterday, this could be an even greater buying opportunity. So, I recommend keeping your powder dry (hold your cash) until then. After August, we will be in the historical time for the precious metals to rise in price, so let's be prepared.

Keep your main focus upon the word of God and his kingdom. As you do this, you will have peace and security in knowing the Sovereign Ruler of all until He comes again.

Best to each, Doug

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