A quick update on the mining shares - The strong performance on Wednesday has set them up for a real shot at beginning a trending move to the upside. They are right at the top of the range that has been containing them for a while now. Just like Silver was knocking on the door of the $20.50 level prior to its nice move above $22, the shares are at a technical juncture. If the bulls can hold firm tomorrow (Thursday) they have a real chance at flushing a fair number of short sellers out of this sector.
"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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Wednesday, August 14, 2013
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