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Big Al –
Good stuff and helpful! Thanks.
NVERF stock is below their 20, 50, and 100 day averages…..something that makes me go hmmmmm.
i am more and more going to buy only producers of gold , not explorers. CVX. MRO. love oil producers.love to all S
As I have said many times in the past, you have to do what allows you to sleep at night.
Steve writes another strong letter, I thought you might like to see
7:11 AM (27 minutes ago)
to bcc: me
If there is one driver more prescient than an analyst’s predictions, a technician’s chart readings, an economist’s froward view, it is a rumor. Today the rumor is a biggie. The Fed will announce it will do something, twist, jerk, QE, anything but shuck and jive. The market believes this and so bet adding 95 Dow chips to pot. Your call Mr. Chairman! Rumors have a way of gaining momentum without added information and often gain momentum even with contrary information. It is the American way-HOPE-always hope; it is the fundamental American attribute that has led us to be free, to grow and build a nation of, for and by the people-well, it used to be that way! But on a world level life is more mundane. There are tighter class systems, barriers to entry, more discrimination-less HOPE. But those masses too bet and this morning the world is placing their bets against the Fed. The sign is gold and its movement is straight down looking more like a goose shot out of the sky than a live gold price trading graph. Who will win? The good ol’ boys on the floor of the exchange? The gold shorting/selling world? The answer will come shortly. But who will be the loser? This answer is known already and the answer is you! If the Fed moves you, me and our children, grandchildren and their future children will be saddled with debt and us with reduced buying power. If the Fed proves it was only a rumor the market will begin a renewed decline this time successfully penetrating 12,000 and maybe even filling the first gap below.
Yesterday the RSI rose to +19 not enough to eclipse the peak performance of +22 at Dow 12,651. This means a second abort. But aborts like these-mini aborts I call them-often get canceled. So might this! The RO held the +24 of the day before. It should have gained but with only 3 Dow stocks in down trends (27 up 3 down-27-3=24) it becomes more difficult. DowOBV logged day four in a rising trend. Not a lot, below the 5/6/7 average unless the market is extremely weak and the rally was simply to relieve an oversold condition. Although the MACD’s of both SPX and Dow are only at neutral their relative strengths are at 60 with 70 being over bought. The professionals don’t have a clue as demonstrated by VIX. After probing a new low a full point below it closed up .06 on a near 100 point rally. That says volumes. This morning the dollar is stable with some minor selling. It all looks like a calm before a storm. Heads I win, tails you lose! It just might be time to not only finalize that survival plan but to begin to accrue item upon item. For each gold 1 oz. coin one owns, she might consider owning 10-20 silver coins. They are easier to trade because of their lesser value and are far less costly than fractional gold coins. NO BARS-there are so many counterfeit bars in the world all ingots will soon have to be assayed-it isn’t worth the risk. Coins are costly but far less so than an inflating currency. Bite the bullet! That’s it for financial advice-tomorrow we move to the next topic in keeping you and your family safe in times of strife, peril, adversity or disaster. These are steps that in the natural world led Darwin to formulate that the fittest survive.
Interesting commentary Butler Investor.
Many thanks. I enjoyed reading it.