Thoughts on Markets

Monday, August 17, 2009

Gold Down - Silver Down - Buying?

Gold is now 932.40. This is not a close for the day, but an early quote just before the opening. If this continues, we may have another buying opportunity for the miners. I hope to publish this just after the opening to give each of us time to seize the opportunity if it is presented to us.
Silver is following gold in the drop though silver is holding above 14.
The 24 hour graph on gold shows how the price has dropped early today. The drop has been steady since Asian markets opened.
I am going to present the miners using the Scottrade streaming quote chart. By the way, this is another great resource offered by Scottrade. Thus, I will not have to type each individual price. Aside from the miners, I like BYD. This is the stock mentioned by Richard Russell which is heavily into automobile batteries and moving into cars. It is a Chinese company which gives it extra appeal to me. Here is the recent graph on it. Note that it dropped a bit giving us another buying opportunity if it is right for you. I bought at 4.20, 5.35, and 5.55. Will be interested in more soon as the price continues to rise or on dips such as we saw on Friday.
Here are the miners at open. There seem to be several good buys: HL<3; class="blsp-spelling-error" id="SPELLING_ERROR_3">Hn><9; and some others. Check them out.
The DOW is off 180+. The Univ. of Michigan Consumer Confidence dropped to 63.2, a five month low during August. The Euro is off a bit to 1.4065 and the dollar is showing a bit of temporary strength.

I am rushing to get this out early. Continue to look to the sovereign Lord of all. He is in control of everything. Rest in Him.

Best to each, Doug

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