"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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Friday, April 29, 2011

Silver knocking on the door of $50 again

The market has rallied strongly since the comments from Fed Chairman Bernanke and the press release of the FOMC but has not been able to move above $50. It will need to do so rather soon or it does run the risk of stalling out here and setting back as some longs will get disappointed and book profits, particularly if the silver mining shares do not perk up soon.


Posted by at

5 comments:

  1. rahbiiApril 29, 2011 at 7:08 AM

    Just a heads up to the herd, London is closed today and Monday for the Royal Wedding.

    ReplyDelete
  2. rahbiiApril 29, 2011 at 10:46 AM

    GOLD!

    ReplyDelete
  3. unum mountaineerApril 29, 2011 at 11:18 AM

    @rahbii, maybe that will be the x-factor and allow for a run up past $50. With the World Reserve currency on its death bed, the arguments against physical gold and silver ownership is simply retarded.

    ReplyDelete
  4. RuiApril 29, 2011 at 11:31 AM

    You can be sure they'd try hard to paint a double-top here, especially at this critical 50/OZ level. No matter how in-effective it is they'd have to try it since they don't have many tricks left.

    ReplyDelete
  5. dflyApril 29, 2011 at 1:33 PM

    Looks like $50 was an intermediate top!

    ReplyDelete

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