"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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Tuesday, May 17, 2011

Silver - 4 hour chart

Silver has bounced off of support down near $33 once again and is moving higher at this hour. Thus far it is reinforcing that level as good buying support with selling coming in near $36 - $37. It might very well be carving out a new range.

Keep in mind that as equity markets move higher, so too will silver and as equity markets move lower, silver will follow. It is all about risk trades and money flows for the time being and whether or not the hedge funds are putting those on or taking them off.

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