Thoughts on Markets

Friday, July 31, 2009

Enjoy Some Humor - Gold Up

Gold is moving higher today. You can see the red dot at 940.30 on the graph for the price now. The red circle emphasizes that July 29th was a down day, but both the 30th and early today are showing up days. The miners are following.
The industrials seem to be topping out as indicated by the broken black trend line. Not, too, that the trend lines on the bottom of the graph are showing that volume is falling as the price tops out. The red circle shows that the MACD is topping as well. Thus, from a technical perspective, we would expect to see either a period of consolidation or a falling off of the DOW in the immediate future.
The U. S. Dollar is still in trouble. This should not change in the foreseeable future. The trend is down. I circled the last three days on the graph which shows two up and yesterday down. The MACD is turning up which is bullish for the near term.

From Gary North:

Watch Bernanke Go into Panic Mode Over Congressman Ron Paul's Bill to Audit the Federal Reserve System

See it HERE.

A humor with a bit of truth from the mid east HERE. There is a struggle there, but it has been long term.

From TownHall.com:

Obamacare: Not Waterloo, Just a Tactical Retreat

WASHINGTON -- Yesterday, Barack Obama was God. Today, he's fallen from grace, the magic gone, his health care reform dead. If you believed the first idiocy -- and half the mainstream media did -- you'll believe the second. Don't believe either.

Conventional wisdom always makes straight-line projections. They are always wrong. Yes, Obama's aura has diminished, in part because of overweening overexposure. But by year's end he will emerge with something he can call health care reform. The Democrats in Congress will pass it because they must. Otherwise, they'll have slain their own savior in his first year in office.

But that bill will look nothing like the massive reform Obama originally intended. The beginning of the retreat was signaled by Obama's curious reference -- made five times -- to "health-insurance reform" in his July 22 news conference. Read it HERE.

It looks as though Obama Care has taken a hit. The citizens were solidly against it, but Washington will not give up. They are bound and determined to control everything we are and do.

For a funny commentary on politicians click HERE.

We need some humor every day to help us enjoy our life in the Lord. Stay focused on Him and live in concert with His word. One of the major demands of God is for us to join in corporate worship each Lord's Day. What will you be doing this Sunday? Who is Jesus Christ to you?

Best to each, Doug



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