A Masterpiece, and Highly Recommended
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I was looking at some silver metal statistics this afternoon and came across and old fibonacci chart of the silver commodity ($SILVER). It looked to be running into a relatively significant Fib line of support at approximately $39.50. That line should hold, given the overbought conditions of the dollar, but here’s the daily chart:
The other point was the relatively rapid decline of the U.S. greenback last night and today. This could be mean “carnival fun house'” time for stock traders extant. The volatility, in my opinion, will be crushing and not a very conducive environment for anything but quick buck artistry. Play cautious, my friends. I see the dollar dropping all the way to $75.70 before it runs into any support. This could be, however, the last hurrah for the stock markets if we get a flight to quickly fungible paper money and the dollar strengthens again. As I mentioned today, $78.10 is our signal to “cut bait” and get the heck out for hurricane season..
Look for me in my bunker in that case. I will have the hot toddies ready, spiked with Basel Haydon.
My best to you all….
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Hey Jake, I just posted a reply to your earlier comments regarding new wave as you posted this silver update. Check out the link in that comment for a flashback you might enjoy…
I responded, but here’s the radio station — WLIR — I grew up listening to in the eighties…
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Thanks Jake, might take some $SLW today.
Have a good weekend.
AG is a high beta play if you want to do the quick buck thing… but keep an eye on it.
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Too much to keep an eye on it seems. The US and Europe seem to be totally committed to supplying liquidity to the markets no matter what it costs us in the future. They just can’t seem to stop meddling.
Which I suppose is great for those that do not care shit about the future and only about how many fat stacks of cash can be raised today or how to remain in power.
Nothing that I have read has indicated anything good is going to happen in Europe in the next year. They are only delaying the inevitable which will begin with the default of Greece and then Itay…Spain…Portugal…Ireland…
Hayek is probably kicking Keynes in his heavenly balls.
The US is saved because we will print money. It won’t be worth anything but we will save whatever is left of the republic from total ruin.
I don’t know anything about mark-to-market but apparently it is standing accounting rules that I read would/should be used except for that pesky problem that if it were there would be many Lehman type moments in Europe leading to complete collapse I suppose.
The world is in complete denial. I think it is worthwhile to protect oneself from the ensuing massive government interventions. It may get ugly. When? Who knows. 3-5-10-20 years from now? The can go only be kicked so far until it disintegrates.
I’ll be happy to buy some physical shiny loads if Jake’s prognostication of decline ensues.
Rep. Tim Scott’s (R-S.C.) bill to limit the National Labor Relations Board’s powers passed in the house today by a vote of 238 – 186.
The bill was one sentence:
“To prohibit the National Labor Relations Board from ordering any employer to close, relocate, or transfer employment under any circumstance.”
I love this guy.
It will die in the Senate.
It might not… a lot of Dem Senators are making some extremely right-leaning pronouncements these days… what with the elections coming up and all.
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BRD is the WRD! Thanks Jake. BRD to be added to S&P mining, small cap, and global gold indexes. You mentioned this stock a few months back and I began accumulating. I watch it trade down strongly earlier this week for no good reason and bought 2000 shs yesterday at $1.53. Closed today north of $1.70.
Turns out it traded down for a very good reason, to allow those with inside info to pick up some cheap. Got a lot of this and can see it easily trading above $3 by the end of the year once it gets past $2.
Youdaman!
LOL. Talked about it in the PPT today.
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