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Tomorrow, and tomorrow, and tomorrow,
Creeps in this petty pace from day to day
To the last syllable of recorded time,
And all our yesterdays have lighted fools
The way to dusty death. Out, out, brief candle!
Life’s but a walking shadow, a poor player
That struts and frets his hour upon the stage
And then is heard no more: it is a tale
Told by an idiot, full of sound and fury,
Signifying nothing.
— Billy Shakes (Macbeth, Act 5; Scene 5)
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I think tomorrow will tell the tale, as I just don’t think this freaking Blackened Cross situation is going to last much longer. It’s either going to break down and we’re done, or we’ll have liftoff here:
Again, I’m not getting very excited here. Gold is hurting tonight, despite the dollar’s continuing south. Silver has worked off the oversold condition, and it too looks like it might take a breather here. If, however, we get a break through those price barriers above, then it’s “Party on, Garth!”
In the meantime, I have something more immediate: a Monsieur Le Fly special — a Hunnit Dollar Roll stock, starring one of my old clients from the old days — JOYG, whom I love because it sells… what? MINING MACHINERY! What’s not to like?
Note: the above is a weekly chart, so this current move carries even more weight, given it’s rocketing off the 34-week line and through the 13-week EMA. I’ll be balderdashed if we don’t get a 100-plus roll going forward.
Best to you all, my friends.
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Happy happy, joy joy!
BRAVO !!,
JOB WELL DONE MY LAD !
I think the miners (XAU/HUI) have put in their lows .. there’s been a positive divergence against the underlying metals recently, opposite of the action in April where the miners peaked several (about 3) weeks ahead of GLD/SLV. .
If mirror image action plays out, I’ll be on the lookout for a GLD/SLV bottom in 2 weeks or so.
Well, your theory will certainly be tested today, B. POS and POG are down a bunch this morning. Let’s see what the miners do in response.
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I think they wont get crushed … call me a buyer … albeit, very slowly … at least that’s my game plan, subject to abandonment at a moments notice(panic) 😛
Have a good 4th Jake
You too, Cane. I think I will be up in your area quite a bit this summer/fall, so we will have to pour a couple.
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Ahhhh, how I’ve missed the “hustle & bustle” of brookville blvd.
/sarcasm.
Much better scenery flying into LGA vs JFK but not sure worth the hassle getting to the south shore.
You’re nuts to go there for 4th o’ July. Zoo City.
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Lol- as opposed to turkey day, when it’s calm & tranquil?
$1450 looks good for adding gold positions … Happy 4th All !!!
“I’ll be balderdashed…” The lexicon on this site is truly top notch. I’m going to use that phrase on my next conference call for sure.
We broke down and the 50 crossed the 200 on the daily $HUI chart.
However, I am predicting sideways movement here as we know the precious metals tend to underperform in the summer months. Then, we break upwards out of a volatility squeeze and we all live happily ever after, an ending quite unfamiliar to William it seems.
Any thoughts on lithium?
I just got my crystal ball back from the dealer and it says “Gold is overvalued and will go lower”…and “With the end of QE2 the Fed will make it a point to undermine the value of commodities thereby scaring the speculators away”….
Looks like you’re wrong, punk….
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http://news.goldseek.com/GoldSeek/1309532700.php
An interesting theory on the purpose of derivatives markets. Fascinating. I recommend reading it. It isn’t a very long article.
http://www.fundanomics.org/