Thoughts on Markets

Monday, October 20, 2008

Detour, Rather Crisis Ahead!

The DJI had another big day to the upside. However, notice the index is still well below both the 50 and 200 day moving averages. It was a banner day up some 413+.

Both the DJI and the Transportations are coming upward off of what may turn out to be a double bottom "W" bullish graph curve. Perhaps, we will be informed by the market tomorrow if this is as it appears to be shaping up. Could be, but we have to be patient to find out for certain.

Gold had an up day, but not very exciting. It is still being put upon by the market and possible intervention. The GLD proxy for gold moved up 1.29. Not a great day, but not terrible either.

The mining stocks were somewhat successful. They were not very exciting either. At least they were up.

Spot Gold is at 795 up some 10++ and silver moved rather nicely up 0.38 to 9.73. We will be checking the over night markets later.

This is a very neat view of the present Crisis in Pictures from Casey Research. Check it our HERE

In the meantime, praise the Lord for His preservation of our lives another day. Without His providence and care, we would not live another second. He is the Creator and Sustainer of our lives. Thus, He deserves our praise and thanksgiving. Let us remember the blessing of the reformers, and in particular Martin Luther and we celebrate reformation day this month. Without such men who studied the Scriptures in depth and stood unswervingly by them, the reformation would not have taken place to provide so many blessing to the Reformed and Roman Churches. They affect both to the glory of God.

Best to each, Doug


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