“All that is gold does not glitter,
Not all those who wander are lost;
The old that is strong does not wither,
Deep roots are not reached by the frost."
J.R.R. Tolkien, The Fellowship of the Ring
14 January 2014
NAV Premiums of Certain Precious Metal Trusts and Funds
13 January 2014
Gold Daily and Silver Weekly Charts - Bounce
Gold and silver popped a little today, added to the after hours increase which they enjoyed on Friday.
Stocks are in an asset bubble uptrend, and gold and silver are in a remarkably persistent price decline.
Meanwhile at the Comex warehouses, HSBC, the custodian for GLD, managed to add some gold back to the registered (deliverable) inventory. More will most likely be needed for February.
As I said for stocks this evening, follow through is everything.
Have a pleasant evening.
SP 500 and NDX Futures Daily Charts - WakuWaku Dokidoki
For a bearish sort it might be the feel of the air rushing over your body as you fall off a cliff, perhaps.
So the bears got a brief thrill today as stocks 'finally' peeled off a second layer of the year end paintjob from just a few weeks ago, and slipped a bit off their Fed blown asset bubble.
The VIX is a bit more understated, coming as it has from almost still life complacency even after last weeks Jobs miss.
Follow through is everything, and so fare we have not yet broken the uptrend on the March SP 500, which is around the numerically important 1800 level. So the bearish excitement is probably premature, as it has been since the last meaningful correction in 2011.
This weeks economic calendar is included below. It is packed with facts, but only a few market movers in the bunch.
Chartered offered a figure slightly north of $61 Billion for Time Warner after the close.
Have a pleasant evening.
Real News: Hedges and Binney on NSA Policy Part 2
“One of the greatest advantages of the totalitarian elites of the twenties and thirties was to turn any statement of fact into a question of motive.”
Hannah Arendt, The Origins of Totalitarianism
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