That Texas Depository Bill I mentioned yesterday is about to go to the governor and the word is he will sign it. Today I got a call from the Rep. Giovanni Capriglione who wrote and introduced the bill. You can email him from his homepage, http://bit.ly/1AM8LmL, and tell him what a great work he has done for everybody in the United States to lead the way back to sound money, even if you aren't from Texas. If you are from Texas, you can brag on him even more.
Today the US dollar index plunged SPECTACULARLY on news that a deal is near between Greece & its creditors. It was it's biggest one day percentage decline in nearly two years, down One hundred Sixty (160) basis points (1.64%)! Take a gander, http://schrts.co/bhSFhX
That US dollar index nosedive with a leetle gold strength lifted the Gold/US $ Index spread above the 50 dma. Yes, yes, it appears more & more that the spread's fall from the May high with the two gaps down was indeed a COMPLETED move. A close above the 20 DMA and more climbing must now confirm that. Chart at http://schrts.co/lEHI64
Can y'all believe that the euro actually showed some grit today & rose and barely missed closing above its 20 day moving average. Rose 2.07% to $1.1153. Let's keep straight in our minds, however, that the euro hasn't hit a lick really until it jumps over $1.14. Have mercy! even the yen rose 0.55% to 80.56. Will wonders never cease?
The wonders never kicked in for stocks today, unless you count the Dow closing down only 28.43 after being down early in the day 115. Ended down 0.16% at 18,011.94. Good job, Nice Government Men! S&p500 lost 2.13 (0.1%) to 2,109.60. And wouldn't y'know, that Dow Jones Composite closed below its 200 DMA again today. Mercy, those ARE buzzards in the trees!
Dow in gold has again parted from the upper gator jaw of the broadening top and fallen through its 20 DMA. Ended at G$312.14 gold dollars (15.10 troy oz). Dow in Silver resumed its merciless, relentless descent toward its 200 DMA (now S$1,348.46 silver dollars or 1,042.96 oz), falling below its 20 & 50 DMAs today. Closed at S$1,388.27 (1,073.74 oz). Gravity is calling, and won't take no for an answer!
WTIC jumped 1.33% to $61.04/barrell, above its 20 dma. Will it move higher? Even copper turned up.
Interest rates, as represented by the 10 year treasury note yield and 30 year T-bond, GAPPED up today above their 20 DMAs Gapped up. 10 year jumped 3.38% to 2.266% while the TYX rose 2.37% to 3.021%. 'Tain't interest rates risin' so much as it's folks dumping US Treasuries, I reckon. But shucks, I'm just a nat'ral born durned fool from Tennessee with mud between my toes. What do I know 'bout sech thaings? Janet, Janet, stop puking in your wastebasket! Get a paper bag like a lady.
My, my, world looks different today. Aren't y'all glad y'all bought silver & gold yesterday?
Today gold rose $5.80 to $1.194.10 on the Comex where they take no prisoners. Silver rose 11.9 cents to 1678.3c.
Jumping out at me here is the refusal of silver & gold to break down. Both are now bouncing away from that upper triangle boundary they went back to kiss good-bye. No, no, there is not yet any definitive confirmation of another upmove starting, but they have held on and are edging up. Gold/silver ratio remains below its 200 DMA. But all this is just moonbeams & speculation unless silver & gold give us some little encouragement to go on, a jump above $1,205, say.
I may be crazy, but I bought a lot of silver yesterday. That's okay, I've been crazy before.
SPECIAL OFFER: US GOLD $5 & $10 Commems
During the 1980s & 1990s the US mint issued $5.00 and $10.00 commemoratives to the ancient standard, 90% pure containing a net fine gold content of 0.2419 tr. oz. ($5) and 0.4838 tr. oz. ($10).
I buy these a few at a time when I can get 'em cheap, then throw 'em all together as a special offer for y'all. Price is based on spot gold at $1,194.10. These coins have a five percent (5%) premium over their gold content so cost $1,253.82/troy ounce. All coins are prooflike and encased in hard plastic cases.
OFFER No. 1.
One each US $10 gold commemorative at US$606.60 each and Five each $5 gold commemoratives at US$303.30 each for a total of $2,123.00 (1.6933 troy oz total) plus $35 shipping for a grand total of $2,158.00. SIX LOTS ONLY.
OFFER No. 2.
Ten (10) each US$5 gold commemoratives at US$303.30 each for a total of $3,033.00 (2.419 troy oz. total) plus $35 shipping for a grand total of $3,068.00. TWO LOTS ONLY
First come, first served, and no re-orders at these prices. I will write orders based on the time I receive your e-mail.
Sorry, we will not take orders for less than the minimum shown above.
All sales on a strict "no-nag" basis. We will ship as soon as your check clears, but we allow Two weeks (14 days) for your check to clear. Calls looking for your order two days after we receive your check will be politely and patiently rebuffed.
It increases your chances of getting your order filled if you offer me a second choice, e.g., "I want to order One of Lot 2, but if not available will take One of Lot 1 or Lot 2." ORDERING INSTRUCTIONS:
1. You may order by e-mail only to email@example.com. No phone orders, please. Please do NOT order by replying to THIS email, because it will delay your email.
Your email must include your complete name, address, & phone number. We cannot ship to you without your address. Sorry, we cannot ship outside the United States or to Tennessee.
Repeat, you must include your complete name, address, and phone number. Our clairvoyant quit without warning last week, then I tripped, dropped, & smashed my crystal ball, & our fortune-teller is on strike, so I can no longer read your mind.
2. When you buy from us, we cannot later change or cancel the trade. We are giving you our word that we will sell at that price, & you are giving us your word that you will buy at that price, regardless what later happens in the market, up or down.
If you break your word to us, we will never again do business with you.
3. Orders are on a first-come, first-served basis until supply is exhausted.
4. "First come, first-served" means that we will enter the orders in the order that we receive them by e-mail.
5. If your order is filled, we will e-mail you a confirmation. If you do not receive a confirmation, your order was not filled.
6. You will need to send payment by personal check or bank wire (either one is fine) within 48 hours. It just needs to be in the mail, not in our hands, in 48 hours.
7. "No Nag Basis" means that we allow fourteen (14) days for personal checks to clear before we ship.
Want your order faster? Send a bank wire, but that's not required. Once we ship, the post office takes four to fourteen days to get the registered mail package to you. All in all, you'll see your order in about one month if you send a check.
Argentum et aurum comparanda sunt —
Silver and gold must be bought.
— Franklin Sanders, The Moneychanger