"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
Trader Dan's Work is NOW AVAILABLE AT WWW.TRADERDAN.NET
Happy Thanksgiving to all my American Readers
I cannot do better than to recommend to you the following article which has appeared in the editorial pages of the Wall Street Journal since 1961.
I am also struck by the fact that in much of today's America, the very mention of the word "God" in context of a Christian expression of faith, would solicit howls of rage and protest from those whose chief aim is to rid the entire public arena of the very mention of His name.
Perhaps when that group gives thanks, if they do at all, they give thanks to themselves. Those of us who are otherwise minded, know much better from whom our many blessings flow. We also understand that any nation intent on mocking the very Being who holds its destiny in His hand, should not be surprised when His many tokens of displeasure are to be seen in the land.
"Righteousness exalts a nation, but sin is a disgrace to any people".
The Desolate Wilderness
This classic editorial has appeared annually since 1961.
Wow Bitcoin breaks 1200!
ReplyDeleteThis must be the coming one world currency, soon we'll be seeing lineups to receive the mark of the beast to do commerce.
Hey anything is possible in the increaing secular world.
Prophet
DeleteWhat makes you think you have not already been marked?
Cripes you're right, that explains the 666 I woke up with on my forehead.
DeleteWhy, you can't go to heaven if you get marked. So since we can know, we haven't been. It is a choice. So that is simply how ya know.
DeleteGreat Post Dan, thanks.
Prophet, are you familiar with the book "777" from Pierre Jovanovic?
DeleteWhen economies are biased to Financial as opposed to Real you get bubbles in some things for a while then pop. I guess with bitcoin the rush for the door will come before long.
ReplyDeleteI give thanks to the upcoming comex gold sub 1,000 print. I give thanks to the upcoming Dow blowoff top.
ReplyDeleteEmbrace the Big Lie (economy). BTW The Mark is voluntary....
The Mark is only voluntary if you want to eat, work, get medical attention, drive a car, get a passport, vote, use the internet..etc…what do you think a SS number is? The deception will be seamless and perfect, you won't even know it's happened until it's too late. It might be already.
ReplyDeleteAnyway, I wanted to point out a possible example of capitulation.
Take a look at what happened to Detour Gold (DGC on the TSE)in the last two weeks.
Capitualtion? dead cat bounce? an unbelievable bargain right now?
I bought this stock back in 09, I just about puked when I did it.
Sold a month ago when I was still money ahead.
Maybe some of you can comment on what we are starting to see here.
We could see a final gut wrenching puke on the HUI to 150 or lower…or….are we close to running out of sellers?
Detour went to a low of $2.88 in the last week..why?…pure fear and stupidity.
I was in Detour too but was lucky enough to get out at $28. But DGC is exceptional and not the poster boy for a capitulating sector. It should never have been valued that high, just a classic example of an overvalued spec play. Now that it's in production it shows. Due to it being low grade the costs are too high at these low gold prices. Plus they've had other ramp up issues to boot. So there you have it $39 to 2.88 in 2 years, one of the worst of the bunch, another former market darling.
DeleteThank you Dan. God bless
ReplyDeleteHappy Thankgsgiving to all readers as well, from a French who doesn't celebrate it :)
ReplyDeleteI by chance watched the last episode of a season with Kevin Spacey in the role of potential vice president in the US.
He goes to a church and...prays for himself.
It's theatrical, because if you are that way, why would you need a church anyway? :), but I think its relevant of what Dan is mentioning.
To come back to TA, no possibility to post chart, but I'm impressed how the Bollinger 100 period in a range worked as an anticipated support area for prices.
Have a nice day,
Another interesting message, this one is from Paul Harvey, April 03 1965
ReplyDeletehttp://stg.do/9LDc
30 year bond and 10 year note both gapped down on the overnight.
ReplyDeleteBen will have to show old Yeller how to play whack a mole.
As of this morning, still 33000 contracts open in the dec gold. If it doesn't change much in the next day, all the predictions about a failure to deliver will come to pass. But as has been pointed out numerous times here, the sellers always seem, at least in the last 2 years, to find a way out. But the one time they cant,..but will wait and see.
ReplyDeleteDan...well said. Thanks!
ReplyDeleteJust thought I would add one more Thanksgiving thought.
ReplyDeleteThe quote below was in a email from the wife of a friend of mine who had a stroke last fall.
They are both in their early 50's. The hospital bills have wiped them out financially, they have lost everything, even worse he is still bed ridden and it will be many years of therapy before he will even be close to functioning normally.
I knew them through various motorcycle organizations. They planned a retirement of Motorcycle tours and adventures. That is all gone forever.
It all changed in one afternoon.
Anyway...here is how she ended her email to us yesterday...food for thought.
"So today...be thankful for all your blessings. Hug your loved ones. As I always say...in the whole scheme of things. ..when you look at your life from afar...what is it that really matters? For me, my husband, my children, my friends and family. ..my faith are those blessings I hold most dear."
Happy Thanksgiving! Wishing all a peaceful holiday.
http://i44.tinypic.com/wiq2v7.jpg
ReplyDeleteThis is a daily chart and the blue area shows the inf bollinger band (100 periods) which indeed nicely supported the price. That's why I'm using bollinger bands as part of my tools.
Have a nice weekend all,
Also, keeping an eye on the very bearish TA scenario for gold.
ReplyDeleteI agree with one thing : 1200 area is key.
Short term, the weekly time unit offers a range because of horizontal bollinger bands. Would be nice for bulls that the support doesn't give way at 1235.
http://www.gold-eagle.com/article/old-necklines-never-die%E2%80%A6gold-big-picture
Personally, I'm rather waiting for (maybe only in 1, 2 years from now??) the big crach in stock markets, because that's where I will short with a vengeance.
http://edegrootinsights.blogspot.com/2013/11/dow-transports-leading-concentration-of.html
Thanks for leaving out non-Americans from your Thanksgiving wishes!
ReplyDeleteWon't read your blog any more. Bye, bye!
I think Dan did not want to assume an arrogant and pompous attitude that assumed Europeans and Asians, etc. would appreciate our American holiday and our best wishes. You sir, are a clown and a donkey and that is all from sparks; steve
DeleteHans-Schmid;
DeleteDo you celebrate our American Thanksgiving holiday in your country? I seriously doubt that.
But you are of course welcome to stop reading the blog any time you wish.
Tschuss; Daag; Farvel; Sayonara; Adios; TRANSLATION - don't let the door hit you in the ass on way out.
Well said Dan and Steve.
DeleteHans I am sure you are not reading this but Dan took the fair course of directing his holiday specific greetings to those who typically celebrate the holiday. If you feel this excluded you from his good wishes you are wrong and I feel sorry for you.
This comment has been removed by the author.
DeleteHans, thanks for reminding me Einstein's quote : two things are infinite, the universe and human stupidity, but for the former he still had doubts.
DeleteAu revoir, do svidania, do vidzenia; bari guicher, sayonara, hoda hafez, go buy an electronic microscope and check if you can see some part of my anatomy in there.
Hilarious to watch the chart of Bitcoin and XRT and XLY on the NYSE.
ReplyDeleteThe parabolic "anti-dollar" currency turned out to be Bitcoin and other digital items created out of thin air o a computer, as well as common stocks reflecting the resilience and unflappable nature of the U.S. Consumer.
And all this time the "acclaimed experts" thought it was going to be gold,
As Bob Brinker used to say,
"Never Before Have So Many Been So Wrong For So Long"
LOL!!!
Mark
ReplyDeleteXRT and XLY could now be considered low risk, safe haven investments.
I was reviewing the track records of some of the "acclaimed experts" yesterday.
Following Cramer on Mad Money would have been 100 times better.
Most were calling the bottom at HUI 450 or so, stating that the gold miners were cheap at those levels…at HUI 450 !!??
I could go on but I think you get the point.
Amen brother Dan!
ReplyDelete