"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 down but bounces from support
Once again the HUI has managed to attract significant buying down at the lows signifying that the same buyers who have been busy accumulating gold shares for the better part of the last year are still apparently willing to add to their holdings on these dips lower in price. As long as this index closes the week ABOVE that lower red line, we remain within a range trade.
Well Dan,
ReplyDeleteOne of those guys is me. Since I went in at earlier this week at the lower end of the range, I figured well, what the hell, buy on sale NOW at the bottom of the range. Not much mind you but a few more shekels. I bet if the HUI breaks below the 480,it will be a quick and dirty..down to ??? 300? It is then goodbye to the stock market (Maybe we can touch that magical 6666 again about three days after the HUI crashes. The explosion will have been set off that Reggie Middleton and the Zero Hedge boys have been talking about for 3 years. Anyhow, my bet is that, everyone will print to avoid another March 2009 Stock market event. What say yee?
We can't possibly have a market meltdown now. I can hear the King telling his top Jester Timmy and Jester #2 Benjamin, come on guys where is the TEAM SPIRIT? I wonder how much additional TAX dollars they figure they can steal before they devalue every Americans savings to Zero. Time Value of money. Let the 60+ die with chaotic Health Care doctors. Take as much money from the payers into SS (4O+) then go Socialist.
ReplyDelete