14 January 2013

Gold Daily and Silver Weekly Charts - Fire Up the Crazy Train


This entire 'platinum coin' discussion was a bit surreal.  I was entirely disappointed with many of the arguments in favor of it. 

Be prepared to hear very conflicting views of the economy and the monetary system from various and so-called 'authoratative' sources.  Especially unsupported assertions and somewhat hysterical forecasts of doom and gloom, and just blatant talking of books.

The worst thing we have to fear is fear-mongering from those who lust for power.

If gold does get hit in a panic sell off due to the debt ceiling impasse, it could be a spectacular longer term addition to a portfolio.  It may not, as it is hard to tell how this will unfold at the moment.  There may be a sell off and then a flight to quality.  These markets are no longer reliable indicators and reflections of reality except for the long term.

I own no miners at this time.  To me that is owning bullion with leverage.  There will be a time for that.

The fog of currency war is descending.





SP 500 and NDX Futures Daily Charts


Bullish news out of China had the markets up initially but the reality of the debt ceiling confrontation is starting to weigh on the market.

The market is a bit richly priced. I think we may see another leg up to try and suck in some additional funds before they short it and ride it down on reality.