Metals Up Strongly - Da Boyz Taking A Breather?
Gold is up this morning, but is being hammered down. The interesting thing about this is that there is enough buying to hold it in place and even give it up ticks with each blow of the hammer. The boyz have the clout (deep pockets) enough to slam it down, but they seem to be holding back a bit for the time being.
The miners are well into positive territory. This could be a hint of what is to come. Maybe they know something which is hidden from us. There are a series of higher lows indicated by the red trend line over the last 3-4 days which is bullish. The break out above the downward trough was significant. Here are some of the current prices >> AUY 9.42; DROOY 7.85; HL 2.94; HMY 10.97; SLW 8.96, and VGZ 1.82. I still have a 3% trailing stop sell on a portion of my HMY.
Once again, the graph of silver is similar to that of gold. Gold is now 941.40 and silver 14.13 with both on up ticks. The boyz may be taking a breather. It is Friday though, so anything can happen as traders prepare for the weekend.
A great quote reported in Casey's Daily Resource Plus: "The free market punishes irresponsibility. Government rewards it. - Harry Browne"
Harry was always a hard money, free market person. He saw early on that governments hate the free market, so they jump in to regulate and tax it to pieces. Perhaps, they fear freedom loving citizens. Early in our foundation, we were free. We had a small, non-intervening government which was founded on the basis of John Calvin's expressed Christian principles of government. Most of our citizens have forgotten this fact.
From USAGold.com:
June 25, 2009
Dragon's Hoard
In one fell swoop, China profoundly alters gold market synergy
An interesting read HERE. The article outlines three strategies that China is using in relation to gold.
From Reuters.com:
"BEIJING (Reuters) - China has engineered a subtle yet significant shift in the investment of its foreign exchange reserves, a sign of how it is willing to act on concerns about financing an explosion of U.S. debt." Read it HERE.
China along with many other countries is moving away from long term debt to shorter term issuances. This shift is gaining steam. The Treasury will have a hard time selling longer term debt. There is an increasing shift away from U.S. debt instruments across the board.
From The Washington Post:
As we gear up for the Fourth of July, let us praise God that through His providence and grace, He provided us a George Washington. This earthly father of our nation was used by God to give us a nation. There is no doubt that our independence was granted by the providence of God. He is the God who blessed us. Yet we are daily turning our backs upon Him. It is little wonder that He is judging us for our disobedience as our churches have failed to call us to repentance and walking with our God.
Best to each, Doug
The miners are well into positive territory. This could be a hint of what is to come. Maybe they know something which is hidden from us. There are a series of higher lows indicated by the red trend line over the last 3-4 days which is bullish. The break out above the downward trough was significant. Here are some of the current prices >> AUY 9.42; DROOY 7.85; HL 2.94; HMY 10.97; SLW 8.96, and VGZ 1.82. I still have a 3% trailing stop sell on a portion of my HMY.
Once again, the graph of silver is similar to that of gold. Gold is now 941.40 and silver 14.13 with both on up ticks. The boyz may be taking a breather. It is Friday though, so anything can happen as traders prepare for the weekend.
A great quote reported in Casey's Daily Resource Plus: "The free market punishes irresponsibility. Government rewards it. - Harry Browne"
Harry was always a hard money, free market person. He saw early on that governments hate the free market, so they jump in to regulate and tax it to pieces. Perhaps, they fear freedom loving citizens. Early in our foundation, we were free. We had a small, non-intervening government which was founded on the basis of John Calvin's expressed Christian principles of government. Most of our citizens have forgotten this fact.
From USAGold.com:
June 25, 2009
Dragon's Hoard
In one fell swoop, China profoundly alters gold market synergy
An interesting read HERE. The article outlines three strategies that China is using in relation to gold.
From Reuters.com:
Wary of U.S. debt, China shifts gears on investment
Tue May 19, 2009"BEIJING (Reuters) - China has engineered a subtle yet significant shift in the investment of its foreign exchange reserves, a sign of how it is willing to act on concerns about financing an explosion of U.S. debt." Read it HERE.
China along with many other countries is moving away from long term debt to shorter term issuances. This shift is gaining steam. The Treasury will have a hard time selling longer term debt. There is an increasing shift away from U.S. debt instruments across the board.
From The Washington Post:
Not Paying the Mortgage, Yet Stuck With the Keys
Foreclosure Backlog Imperils Recovery
It seems that banks are too busy to proceed with foreclosures, so the home owners are in limbo. Read the article HERE. Though the Post is liberal, it has included a valid article worth a quick read.As we gear up for the Fourth of July, let us praise God that through His providence and grace, He provided us a George Washington. This earthly father of our nation was used by God to give us a nation. There is no doubt that our independence was granted by the providence of God. He is the God who blessed us. Yet we are daily turning our backs upon Him. It is little wonder that He is judging us for our disobedience as our churches have failed to call us to repentance and walking with our God.
Best to each, Doug
posted by Doug @ 8:56 AM
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