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What do I always say to you about dire times? You want to buy gold, silver… and pasta of course. What are you going to do, eat heavy metals that are far more useful worked into cheery adornments and dental hardware?
No, of course not.
In times of rising food prices, you want to eat staples that will fill your belly while providing you the carbo-rush you need to get you through those crucial trading hours between early morning sugar frosted bombs (and coffee) and late afternoon Butterfingers bar from the vending machine (and cawfee).
You need pasta to fill your demanding gut. With some red gravy, or maybe some butter, or a light slathering of pesto. You want the hot hot penne, the tri-color wagon wheels, the masticola. So, it seems, do many others, if judging by today’s nice action amidst Col. Kurtz’s “horror the horror” market show (brought to you be Procter & Gamble) will attest.
Check what this li’l beauty did today among the carnage that is all things not precious metals:
Now granted, this sucker had good numbers today… with expanding gross and net operating margins. That’s all good, but you know that the real reason for [[AIPC]] ‘s increasingly good numbers is “the new frugality.”
Embrace it, pop it in your mouth, swish it aroun your tongue. It’s the latest thing.
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Not the latest thing is the relative strength of gold and to some extent, silver, in this downdraft. Yes, even with [[UUP]] threatening $25 again, and the dollar index (DXY) being over $85 this afternoon, it seems the PM’s are holding their own. This bodes very well for them on any reduction of the dollar’s recent climb.
That said, my perfomers today were [[GLD]] and [[SLV]] , Allied Nevada Gold Corp. [[ANV]] and Eldorado Gold Corporation (USA) [[EGO]] , and [[EXK]] and [[GDX]] , IAMGOLD Corporation (USA) [[IAG]] and Royal Gold, Inc. [[RGLD]] , my favourite here.
I like all the PM’s until further notice… they’ve decoupled from the dollar, and that can only be a good thing.
I also got hammered today in Monsanto Company [[MON]] and [[TBT]] , as was so kindly pointed out by my own personal troll. Amazingly, I bot some more MON just below $60, though not far enough below. I continue to like both names.
I am near exhaustion level, ladies and germs, business is that crazy. I’m sorry I didn’t get to post a new one to you intraday today, but I will try to be there, at least through the comment section, in doozy dozy days like today. Be safe, as Fly says, but look for the rebound here tomorrow.
My best to you all.
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