Precious Metals Up - July 4th Almost Here
While gold is up today, it looks like the boyz may be hammering it again shortly after NY opening. Believe me, they have a huge short position in both silver and gold and when they desire, they will act to slam the prices down to cover their shorts. Until they cover all shorts and do not replace them, we are at their manipulative mercy. Gold is currently 965.50 on an up tick.
GLD, the proxy for gold, has broken above the upper trough line which is technically bullish for the short term. As it gaped down two days ago without covering the gap, it has now gaped upward. Will it cover the gaps now? Historically, it should, but remember this is not a free market.
Our miners' graph is almost identical to that of GLD. However, we do not see the gaps here. But the graph gives us today's price above the upper tough line for positive technical indication. Here are some of the miners >> AUY 9.15; HL 2.73; HMY 10.56; SLW 8.62, and VGZ 1.74. All are strongly up today. As some show profit above my cost, I made unload a small portion of my holding, but not all of any particular miner. All of these are in reasonable buying range, but I would only buy if I had none are very few in my portfolio. But, as always, BUYER BEWARE, and make your own decisions.
Silver's graph is similar to that of gold. Silver is at 14.03 on an up tick. By the way, if gold was a buy at 950+ and silver at 15+, both should be a screaming buy now.
From MineWeb.com:
Posted: Wednesday , 24 Jun 2009 Read it HERE.
Yes, we will have choppy times in precious metals, because of the intervention. However, the dollar got hit pretty badly over night. The Euro went back up over 1.40.
From MineWeb.com:
Posted: Tuesday , 23 Jun 2009 Read it HERE.
Where's the beef, Oops, where are the green shoots? I hope some of you can see them if they exist. Perhaps, that is just more rhetoric to deceive, Oops, to encourage the citizens.
The next Real Estate Market shoe set to fall from FT.com:
Even as conditions in many parts of the credit markets have improved, a big question mark hangs over one large part of the market that is still dysfunctional: the market for securities backed by commercial mortgages." Article available HERE.
Commercial real estate is joining the air letting from the housing market. There are more vacant spaces in strip malls. There are many businesses closing their doors. Unemployment is well above 10% if the truth were known.
From Walter E Williams from TownHall.com:
More on Real Estate from Market-Ticker.Denninger.net:
The ARM are coming due to be adjusted. Remember, too, that there are many homes financed with balloon notes which are coming due. We are yet to be out of the woods on residential real estate.
From Doug Hornig of Casey's Research: "The past seventy-five years have seen the growth of government from a relatively small entity charged with defending the borders, adjudicating disputes and delivering the mail; to a bloated nightmare creature whose tentacles reach into every corner of our existence." - Doug Hornig, Casey Research
Thomas Sowell in TownHall.com:
Read it HERE.
I bet you knew that there would be corruption in the bail outs. Thomas speaks to some of this. Government programs are simply too easy to rip off. There are always those ready to be fed at the government trough regardless of the goal of the providers.
We must always remember that we are totally dependent upon the Providence and Grace of God. Praise Him daily for His care of His people. The fourth of July is just around the corner of time.
We must praise God for His providential granting of freedom from King George through the provision of visionary individuals, among which was the earthly Father of These United States of America, George Washington. We should be in urgent prayer that the Lord will raise just such another man to turn us back to Jesus Christ.
Best to each, Doug
GLD, the proxy for gold, has broken above the upper trough line which is technically bullish for the short term. As it gaped down two days ago without covering the gap, it has now gaped upward. Will it cover the gaps now? Historically, it should, but remember this is not a free market. 
Our miners' graph is almost identical to that of GLD. However, we do not see the gaps here. But the graph gives us today's price above the upper tough line for positive technical indication. Here are some of the miners >> AUY 9.15; HL 2.73; HMY 10.56; SLW 8.62, and VGZ 1.74. All are strongly up today. As some show profit above my cost, I made unload a small portion of my holding, but not all of any particular miner. All of these are in reasonable buying range, but I would only buy if I had none are very few in my portfolio. But, as always, BUYER BEWARE, and make your own decisions.
Silver's graph is similar to that of gold. Silver is at 14.03 on an up tick. By the way, if gold was a buy at 950+ and silver at 15+, both should be a screaming buy now. 
From MineWeb.com:
Choppy times ahead for gold in near term - BMO's Melek
While gold may be vulnerable to a near-term pullback, BMO's Bart Melek believes there are long-term motivations to hold the precious metal.
Author: Dorothy KosichPosted: Wednesday , 24 Jun 2009 Read it HERE.
Yes, we will have choppy times in precious metals, because of the intervention. However, the dollar got hit pretty badly over night. The Euro went back up over 1.40.
From MineWeb.com:
"Green shoots or late frost? Precious and base metals prices in a spin
Much depends on whether the recent markets strength is sustainable or the downturn following the pessimistic World Bank report continues."
Author: Lawrence WilliamsPosted: Tuesday , 23 Jun 2009 Read it HERE.
Where's the beef, Oops, where are the green shoots? I hope some of you can see them if they exist. Perhaps, that is just more rhetoric to deceive, Oops, to encourage the citizens.
The next Real Estate Market shoe set to fall from FT.com:
"Worries over systemic risk in CMBS sector
By Aline van Duyn
Published: June 22 2009 20:20 | Last updated: June 22 2009 20:20
Commercial real estate is joining the air letting from the housing market. There are more vacant spaces in strip malls. There are many businesses closing their doors. Unemployment is well above 10% if the truth were known.
From Walter E Williams from TownHall.com:
More on Real Estate from Market-Ticker.Denninger.net:
"More OptionARM Falsehoods"
Read it HERE.The ARM are coming due to be adjusted. Remember, too, that there are many homes financed with balloon notes which are coming due. We are yet to be out of the woods on residential real estate.
From Doug Hornig of Casey's Research: "The past seventy-five years have seen the growth of government from a relatively small entity charged with defending the borders, adjudicating disputes and delivering the mail; to a bloated nightmare creature whose tentacles reach into every corner of our existence." - Doug Hornig, Casey Research
Thomas Sowell in TownHall.com:
Read it HERE.
I bet you knew that there would be corruption in the bail outs. Thomas speaks to some of this. Government programs are simply too easy to rip off. There are always those ready to be fed at the government trough regardless of the goal of the providers.
We must always remember that we are totally dependent upon the Providence and Grace of God. Praise Him daily for His care of His people. The fourth of July is just around the corner of time.
We must praise God for His providential granting of freedom from King George through the provision of visionary individuals, among which was the earthly Father of These United States of America, George Washington. We should be in urgent prayer that the Lord will raise just such another man to turn us back to Jesus Christ.
Best to each, Doug
posted by Doug @ 8:38 AM
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