Thoughts on Markets

Tuesday, July 28, 2009

Precious Metals Hit Again Big Time

Both gold and silver faced the hammer, again, on NY opening. The boyz gave us a breather, but are back in business BIG TIME! This is not normal market activity. Think about it. An attack on the metals at almost identical times? Both creamed early in NY activity?

Our miners have moved lower following the paper attack on the metals. Here are some: AUY 9.04; CEF 11.93; DROOY 7.50; GLD 92.78; HL 3.07; HMY 8.66; SLW 9.12; SSRI 19.74, and VGZ 1.72. DROOY, HL, HMY, and VGZ are in good buying ranges for me. I may have to pick up a few more shares.

The TRI-Continental, closed in mutual fund, has moved above 10 this morning as some folks are climbing on board. I have limit orders in at 9.89.

The DOW is off about 16 early in the day.

Gold is 944.80 and silver 13.89 with both on down ticks.

The market is likely to be taking a breather at present.

Of course, we all realize that it is in God's hands. He even uses the boyz to accomplish His will. That is fine we me, because I rest in peace with Him. I leave the driving to Him and simply am amazed at His long suffering with our nation. We must remember that His long suffering has an end for those nations whose god is not the Lord. His blessings flow to the nations whose God is the Lord.

Best to each, Doug


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