19 November 2014

Gold Daily and Silver Weekly Charts - The Bear Market Grinds On

There was intraday commentary here and here.

Gold in particular is hitting stiff resistance at a key resistance point. It is not the breakout point, but it does offer some threat if momentum can build to the next level. This is how I read it. You may choose to think differently.

Silver provided some support in refusing to break 16 when the metals were hit hard in a typical bear raid selloff this morning.
Bear markets and hard times can be trying.  It is not unheard of for reformers to start turning on each other when the going gets tough.   I have found myself shut out of a few sites whose owners and denizens apparently do not appreciate those who have different viewpoints. It almost resembles a kind of tribalism.  This is to be expected in times of stress as hysteria ebbs and flows.  
I have found myself accused on one side of being a 'liberal and communist' and on the other side of being a 'goldbug, fundamentalist, and arch-conservative.'  It is not always easy to deal with the works and consequences of creatures from the bowels of hell, and maintain a calm and cheerful disposition.  So mostly I just slough these things off.  As one of my friends likes to say, 'It is the times.'
As for myself I say what I think, and try to do it with civility, clear reason, and conscience. And if that is not enough to be a member of some people's clubs, then I do not wish to be a part of them. It is one of the reasons why I have refused all money, any power, and do not seek 'followers' in the worst sense of the word.   I don't want to carry that weight.  I may be a poor servant, I make mistakes, I stumble too often, in fear and trembling, I say things badly and awkwardly at times, but I only have one love, and one master.  And without that, I am nothing.

Have a pleasant evening.