I know a bunch of y'all will grow exceeding wrathful with me, but I believe that the Stupid Party is setting Bernard O'Bama up for a win this fall by running Mitt "I Have No Personality" Romney. CFR candidate Romney differs not a whit from CFR candidate O'Bama, & surprise, both will appoint more CFR functionaries, wage more wars, & blow more money. Question is, how do you like your hogwash? Full strength from the Stupider Party, or watered down from the Stupid Party? The Stupid Party & the media have buried the only candidate who differed from the CFR Establishment, Ron Paul, so once again you have no choice in the Potemkin Election. I have no tears left to cry, I just grit my teeth & pray Tennessee will survive these foreign fools. But on to pleasanter things, like markets today. Stock indices diverged. Dow rose 71.82 points (0.56%) to 12,921.41 while the NASDAQ composite & S&P500 fell. S&P500 lost 0.69 to 1,369.57. Seems that Apple is on a tear -- a downward tear - and it lost 4.2% today, weighing heavily on those indices since Apple is not in the 30 blue chip Dow Jones Industrial Average. Now none of them smart folks on Wall Street had any clue that Apple was about to tank. Why, its market capitalization passed the whole GDP of Poland & Belgium, and then of Spain, Greece, & Portugal combined, and then of all the rest of US retail stocks, but them smart boys with the pointy shoes never dreamed Apple wouldn't keep on rising everlastingly. Y'all, you don't need to be a genius to beat these boys, you just have to bridle your greed & remember this: if something sounds too good to be true, it probably is. Or if that's too complicated for your memory, try this: when everybody finally agrees, they are likely every one wrong. But, shucks, I'm no more'n a natural born fool from Tennessee, and ain't never even seen a pair of them Gucci pointy-toed shoes, let alone owned one. Mercy, we just got shoes here two years ago! Stocks today, even the Dow Industrials, look toppy again. If the Dow can't pierce 13,000 tomorrow, then it has painted out another double top as it fixes to slide again. S&P500 don't even look that good. See-saw, see-saw, which way rocked currencies today? Dollar index lost 36.6 basis points, 2/3 of what it gained on Friday, & nobody even winced. Left the scabby dollar index at 79.522, and its course sideways. 50 DMA at 79.33, 20 DMA at 79.48, so it barely has a positive momentum, but other indicators are flat as a gridiron, so don't look for the dollar to run off to the upside. Be lucky if it even wakes up tomorrow. The euro, the bottom-feeding catfish of currencies, fell off badly when the day opened but rose nearly to the downtrend line. Remains below crucial 62 DMA, & looks sorry as gully dirt. Ain't no future there, although it rose today 0.45% to $1.3136. The rising sun smiled on the yen today. It gained 0.65% to 124.39c (Y80.39/$US1), & closed above its 50 DMA (123.58). Lay all that aside and look at the chart with a big old slide from 131.52 in February to 118.93 in March, like a ski jump, then a recovery to 124. It's so far below the 200 DMA (127.77) it would need field glasses to spot it from where it sits. Looks weak. 125.2 is the 50% correction, and as a FIRST measure the yen will have to conquer that level before it gets much attention. Pretty predictably it was a down day for metals, after their Friday performance, but it wasn't so horrid. Gold dropped $10.40 to $1,648.70, still holding on comfortably above my $1,630 drop-dead line. Silver lost only 1.6c, closing 3136.4, well above the 3100c downside trigger. (Low was 3116c) I glanced at gold in yen and in euro, & was gratified to see that in both currencies it is bouncing along its 200 day moving average. Why is that welcome news? Well, in bull markets the 200 DMA often serves as the target for downside corrections, so if gold has reached that point already after a month & a half/two month decline, then the correction has pretty well worn itself out. Gold in euros is looking plumb perky, like it's itching to rise. Gold stumbled through that support at $1,650 & fell clean to $1,642, then thought better of itself and bounced up to close at $1,648.70. Trading over $1,650 in the aftermarket. I accidentally added a 300 day moving average to gold -- accidentally because with silver I watch the 300 DMA but the 150 with gold. It's right interesting. Gold's declines in December and early April touched or pierced that 300 DMA (now 1,618.36), but I mean "touched" solely & then ran away. On the other hand, gold stands below its 160 (now 1,691.82). I'd have to say that whenever gold reaches that (now rising) 300 DMA, it sucks buyers out of the woodwork. Oh, and gold closed below its 20 DMA (1658.39) today, which is a little fishy. Other indicators show no sign of further steep or sudden declines. SILVER's chart just don't look right. Looks crazy, like a New Mexican mesa rising out of the desert floor of 3150c. Folks, that just doesn't normally happen. Looks like somebody hit silver in the head with a ball peen hammer. Never mind. Silver continues to hang on above 3100c, positive for us. MACD & RSI are flat & offer no clues. Working in our favor is silver's 7 month dance with its 300 DMA, now under, now over, & under again. Stands today at 3520c. Silver needs to pull out of this pretty soon. On 16 April 1905 Andrew Carnegie donated $10 million to set up the Carnegie Foundation for the Advancement of Teaching. Some say 'twas charity, others that it was to make public education into a tool to create docile workers & voracious consumers. One of the best books I've ever read is John Taylor Gatto's Underground History of American Education, from http://www.johntaylorgatto.com/bookstore/index.htm Don't believe me -- read Gatto. On 16 April 1917 Vladimir Lenin, Bolshevik leader, returned to Petrograd after a decade's exile in Switzerland. How did he so easily get back into the country? The German high command arranged a sealed train to send him to destabilize Russia. Then later Trotsky left New York on a ship & was arrested in Canada, but ordered released by the US state department. And US capitalists funded the Russian revolution & the Soviets. Doesn't make a lick of sense, does it -- if you believe what you've been told. If you don't want your myths disturbed, don't read Antony Sutton's Wall Street & the Bolshevik Revolution or Wall Street & the Rise of Hitler, not to mention Wall Street & the Rise of FDR. Y'all thought all this crookedness just started with the Clinton administration, didn't you? Not by a long shot.
Argentum et aurum comparanda sunt —
Silver and gold must be bought.
— Franklin Sanders, The Moneychanger
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