"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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HUI showing some promise of being sold out
Depending on how this thing closes this afternoon, it might be sold out. Need to watch and see. A positive close would be friendly and would probably cement a bottom in the shares at least.
please hold.....Dan you were so right when you stated that small specs beware...!!! I would just like you to know, that i read your commentary to my wife each day...and the funny thing is ....she listens! You are helping the little guy...God bless you....
ReplyDeleteGDX/GLD ratio reached an 18-month low this morning.
ReplyDeleteInteresting that the miners are up and gold is down - looks like the long gold/short miner hedge is unwinding.
ReplyDeleteWe could all sense that it was coming, right...?
ReplyDeleteI've been dripping funds into my selected mining shares all week, while keeping most of my available capital ready to average down on any further downside.
This is not a repeat of Fall 2008, IMHO.
time has come to buy GDX. 56.60--> may 5th. feel the gdx will outperform the metals. technically must be very close to bottom. fundamentally too much positive risk reward to ignore.
ReplyDeletegood luck to all pm longs.