"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput
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Gasoline Prices set Fresh 32 Month High
Trader Dan,
ReplyDeleteI've followed your Gold charting for quite awhile - since the early days with Jim. One question I have is that beginning early in the gold bull market, large cap gold producers followed the daily change in the price of gold almost in lock step and all the large caps went up or down together. However, in the last few months that pattern has changed. Now Gold goes up (or down) for the day and you don't see gold equities necessarily following it. Instead 1 stock can be up, the next down, a third unchanged...Big change in pattern from last 5-8 years action.
Do you have any thoughts on the change (that is if you agree there has been this change in behavior)?
Tks
Richard
Richard; Please see my comments on the hedge fund ratio trade to explain this. There are some stories on my blog relating to this as well as some of what i have also written at Jsmineset.
ReplyDeleteDan