Thoughts on Markets

Friday, October 22, 2010

DROOY - FVITF - BULM - SILA - Gold - Silver

Once again, we are moving toward the weekend. That brings us to the first day of the week, the Christian Sabbath and each of us is called to corporate worship. This is a great blessing and God has called us to worship together, to hear the word of God soundly preached in its entirety, and to practice the two Sacraments. Hebrews 10:25, "not forsaking the assembling ourselves together as is the manner of some, but exhorting one another. . ."   

Gold, as of yesterday, from StockCharts.com. It is not a pretty picture, but the long term trend is still holding well. I would suggest that the correction will not continue much longer. The election is just around the corner and it is likely that everything possible in the political realm is directed toward keeping the general market up to favor the incumbents, regardless of their total loss of contact with the citizens. They seem to be ignoring the desires of the populace. Of course, they are only interested in retaining the power and wealth furnished them by their political offices.


The correction in gold and silver is shaking out the late comers and weak hands. The long term trend is up and the down trend for the dollar is still in full force. There will always be bumps along the way, but I am holding tightly to what I have and am adding miners as the prices look reasonable. Yes, I will be averaging down on the miners. This is not always a good practice, but for me it is the way I am going these days. I still believe we will see gold approaching 1500 around the end of this year.

From Bloomberg.com:

Banks Face Two-Front War on Bad Mortgages, Flawed Foreclosures
Shoddy mortgage lending has led bankers into a two-front war, pitting them against U.S. homeowners challenging the right to foreclose and mortgage-bond investors demanding refunds that could approach $200 billion.
While federal regulators and state attorneys general have focused on flawed foreclosures, a bigger threat may be the cost to buy back faulty loans that banks bundled into securities. HERE.

Gold and silver from Kitco.com
From Kitco.com:

Market Nuggets: Gold Set To Have Its First Weekly Lower Close In Six Weeks
See this and the rest of the "Nuggets" HERE

Miners from Scottrade.com:

Currencies from Kitco.com:

Some Prices: FVITF 3.26; SILA 0.87; BULM 1.02; DROOY 4.68 (Still below 5.00); DOW up 5+ to 11151; SPX up 3 to 1183+; Gold up 0.20 to 1325.90; Silver up 0.05 to 23.21.

Best to each, Doug

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home