"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


Monday, November 19, 2012

Gold Chart

Gold has rebounded sharply this AM and run right back into a strong level of selling resistance noted on the price chart. If the bulls can push through this region, they stand a very good chance of taking the market to the $1780 level.

What more can you say that "RISK ON" is in vogue today. WAX ON; WAX OFF; RISK ON; RISK OFF.

Wanna know why Silver is so strong today? Look at the following chart of the CCI. Yep, Risk on.

Home Sales Data uptick has copper bulls giddy with delight.

Tomorrow, who knows?

Keep the Pressure on those Red State Governors to say "NO"

The following article in the Wall Street Journal gives a strong voice to those of us who believe that the States should simply say "NO", to this intrusion on their sovereign rights when it comes to implementing Obamacare.

There is still a very good chance of muking this thing up and preventing a federal takeover of 1/6 of the US economy. If you want to know how health care would fare under such an event, take a good, long hard look at the US Postal Service.

Capretta and Levin: Why ObamaCare Is Still No Sure Thing

The majority of state governors are Republicans, and they have the power to disarm the health-care law.